Reference no: EM132645387

Question - The balance sheet for Bryan Corporation is given below. Sales for the year were $3,100,000, with 75 percent of sales sold on credit.

BRYAN CORPORATION Balance Sheet Dec. 31, 20XX

Assets Liabilities and Equity Cash $65,000

Accounts payable $250,000

Accounts receivable 300,000

Accrued taxes 60,000

Inventory 380,000

Bonds payable (long term) 210,000

Plant and equipment 440,000

Common stock 340,000

Retained earnings 325,000

Total assets $1,185,000

Total liabilities and equity $1,185,000

Required - Compute the following ratios:

a. Current ratio

b. Quick ratio

c. Debt-to-total-assets ratio

d. Asset turnover

e. Average collection period