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Wellness 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.

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Wellness 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 Help Assets Liabilities and Equity Cash $50,000 Accounts payable Accounts receivable 270,000 Accrued taxes Inventory 365,000 Bonds payable (Ic Plant and equipment 425,000 Common stock Retained earnings Total assets $1,110,000 Total liabilities a The industry data for the following ratios are provided below; Current Ratio 2.3 Times Quick Ratio 1.5 Times Debt to Total Assets 40% Total Asset Turnover 2.90 Times Accounts Receivable Collection Period 48 days r Bryan Corporation is given below. Sales 070,000, with 75 percent of sales sold on ION 31, 20XX Liabilities and Equity $50,000 Accounts payable $235,000 ble 270,000 Accrued taxes 45,000 365,000 Bonds payable (long term) 180,000 ment 425,000 Common stock 310,000 Retained earnings 340,000 $1,110,000 Total liabilities and equity $1,110,000 a for the following ratios are provided below; 2.3 Times 1.5 Times sets 40% 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? Choose... + What is the quick ratio? Choose... 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 than the industry ratio? Choose... + Is the company's quick ratio better or worse than the industry ratio? Overall do you think the liquidity ratios as a group are better or worse than the industry? Choose... = Choose...

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