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The balance sheet for Bryan Corporation is given below. Sales for the year were $3,180,000, with 75 percent of sales sold credit. Assets Cash Accounts
The balance sheet for Bryan Corporation is given below. Sales for the year were $3,180,000, with 75 percent of sales sold credit. Assets Cash Accounts receivable Inventory Plant and equipment BRYAN CORPORATION Balance Sheet Dec. 31, 20xx Liabilities and Equity $ 45,000 Accounts payable 380,000 Accrued taxes 420,000 Bonds payable (long term) 480,000 Common stock Retained earnings $1,325,000 Total liabilities and equity $290,000 45,000 290,000 420,000 280,000 $1,325,000 Total assets Compute the following ratios: (Use 365 days in a year. Do not round intermediate calculation. Round the final answers to 2 decimal places.) a. . b. C. Current ratio Quick ratio Debt-to-total-assets ratio Asset turnover Average collection period % d. e. days
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