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The balance sheet for Bryan Corporation is given below. Sales for the year were $3,160,000, with 75 percent of sales sold on credit. Assets Cash
The balance sheet for Bryan Corporation is given below. Sales for the year were $3,160,000, with 75 percent of sales sold on credit. Assets Cash Accounts receivable Inventory Plant and equipment BRYAN CORPORATION Balance Sheet Dec. 31, 20XX Liabilities and Equity $60,000 Accounts payable 360,000 Accrued taxes 410,000 Bonds payable (long term) 470,000 Common stock Retained earnings $1,300,000 Total liabilities and equity $280,000 35,000 270,000 400,000 315,000 $1,300,000 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.) b. X C. Current ratio Quick ratio Debt-to-total-assets ratio Asset turnover Average collection period d. X e. days
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