ABC Co. has an average collection period of 90 days for its accounts receivable. If total credit sales for the year were $5,600,000, what is the balance in accounts receivable at year-end? Assume a 360-day calendar year. (Do not round intermediate calculations. Round your answer to the nearest dollar amount.) A) $5,040,000 B) $1,410,000 C) $1,400,000 D) $5,600,000 A firm's long-term assets = $30,000, total assets = $310,000, inventory = $39,000 and current liabilities = $20,000. What are the firm's current ratio and quick ratio? (Round your answer to 1 decimal place.) A) Current ratio = 19.0; quick ratio = 17.1 B) Current ratio = 14.0; quick ratio = 12.1 C) Current ratio = 16.5; quick ratio = 14.6 D) Current ratio = 24.0; quick ratio = 22.1