The balance sheet for Bryan Corporation is given below. Sales for the year were $3 ,040,000, with 75 percent of sales sold on credit.

Compute the following ratios:
a. Current ratio
b. Quick ratio
c. Debt-to-total-assets ratio
d. Asset turnover
e. Average collection period

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BRYAN CORPORATION Balance Sheet Dec. 31, 2015 Liabilities and Equity Assets 60,000 Accounts payable..... 240,000 Accrued taxes .... 350,000 Bonds payable (long term) .. 410,000 Common stock ... 2$ $ 220,000 Cash Accounts receivable..... 30,000 Inventory...... Plant and equipment.. 150,000 280,000 Retained earnings.. $1,060,000 Total liabilities and equity.... 380,000 $1,060,000 Total assets. ...