Profitability Ratios Bryce Company manufactures pet supplies. However, Bryce's electronic accounting system recently crashed and, unfortunately, only a partial recovery of the company's year-end accounting records (which included several profitability ratios) was possible. As a result, Bryce's controller, a bright young CMA named Jeanette, must compute various lost financial account balances using the recovered information listed below. Long-term liabilities $1,500,000 Ending inventory is the same as beginning inventory. Gross margin $2,000,000 Net sales $7,500,000 Accounts receivable turnover 40 Ending accounts receivable is the same as beginning accounts receivable. Total liabilities Current ratio Cash Quick ratio Inventory turnover in days Required: Assume 365 days per year. 1 Calculate current liabilities $1,800,000 4 $530,000 3.5 3.65