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 CPA 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	$2,700,000
Net sales	$8,000,000
Accounts receivable turnover	60
Ending accounts receivable is the same as beginning accounts receivable.
Total liabilities	$1,900,000
Current ratio	4
Cash	$540,000
Quick ratio	3.5
Inventory turnover in days	3.65

Required:

Assume 365 days per year.

1. Calculate current liabilities. $

2. Calculate current assets. $

3. Calculate average accounts receivable. Round your answer to the nearest whole dollar, if required. $

4. Calculate marketable securities. Round your answer to the nearest whole dollar, if required. $

5. Calculate average inventory. $