The balance sheet for Bryan Corporation is given below. Sales for the year were $3,070,000, with 75 percent of sales sold on credit. BRYAN CORPORATION Balance Sheet Dec. 31, 20XX Assets Liabilities and Equity Cash $50,000 Accounts receivable 270,000 Inventory 365,000 Plant and equipment 425,000 Accounts payable Accrued taxes Bonds payable (long term Common stock Total assets Retained earnings $1,110,000 Total liabilities and equi The industry data for the following ratios are provided below; Current Ratio Quick Ratio Debt to Total Assets 2.3 Times 1.5 Times 40% Total Asset Turnover 2.90 Times Liabilities and Equity Accounts payable $235,000 Accrued taxes 45,000 Bonds payable (long term) 180,000 Common stock 310,000 Retained earnings 340,000 Total liabilities and equity $1,110,000 Total Asset Turnover 2.90 Times Accounts Receivable Collection Period 48 days Compute the following ratios: (Use 365 days in a year. Do not round intermediate calculations. Round the final answers to 2 decimal places.) What is the current ratio? 2.45 What is the quick ratio? 1.14 What is the debt to total assets ratio? Choose... What is the asset turnover ratio? Choose... - What is the average collection period? Choose... Is the company's current ratio better or worse Choose... than the industry ratio? Is the company's quick ratio better or worse Choose... + than the industry ratio? Overall do you think the liquidity ratios as a group are better or worse than the industry? Choose... -