The balance sheet for Bryan Corporation is given below. Sales for the year were $3,060,000,...
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The balance sheet for Bryan Corporation is given below. Sales for the year were $3,060,000, with 75 percent of sales sold on credit BRYAN CORPORATION Balance Sheet Dec. 31, 20xx Assets Liabilities and Equity Cash $45,000 Accounts payable $230,000 Accounts receivable 260,000 Accrued taxes 40,000 Inventory 360,000 Bonds payable (long tern) 170,000 Plant and equipment 429,000 Common stock 300,000 Retained earnings 345,000 Total assets $1,085,000 Total liabilities and equity $1,085,000 Compute the following ratios: (Use 365 days in a year. Do not round intermediate calculation. Round the final answers to 2 decimal places.) b. C. d. Current ratio Quick ratio Debt-to total assets ratio Asset turnover Average collection period % X days
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