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The balance sheet for Bryan Corporation is given below. Sales for the year were $3,130,000, with 75 percent of sales sold on credit. Assets Cash
The balance sheet for Bryan Corporation is given below. Sales for the year were $3,130,000, 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 $80,000 Accounts payable 330,000 Accrued taxes 395,000 Bonds payable (long term) 455,000 Common stock Retained earnings $1,260,000 Total liabilities and equity $265,000 75,000 240,000 370,000 310,000 $1,260,000 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. X 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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