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value: 10.00 points Problem 3-20 The balance sheet for Bryan Corporation is given below. Sales for the year were $3,220,000, with 75 percent of sales
value: 10.00 points Problem 3-20 The balance sheet for Bryan Corporation is given below. Sales for the year were $3,220,000, with 75 percent of sales sold on credit. BRYAN CORPORATION Balance Sheet Dec. 31, 2015 Assets Liabilities and Equity Cash Accounts receivable Inventory Plant and equipment $85,000Accounts payable 420,000 Accrued taxes 440,000 Bonds payable (long term) 500,000 Common stock $310,000 65,000 330,000 460,000 280,000 Retained earnings Total assets $1,445,000 Total liabilities and equity $1,445,000 Compute the following ratios: (Use 365 days in a year. Round the final answers to 2 decimal places.) a. Current ratio b. Quick ratio c. Debt-to-total-assets ratio d. Asset tumover e. Average collection period days References eBook & Resources Worksheet Problem 3-20 Learning Objective: 03-01 C profitability, asset utilization 10
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