financial management the balance sheet for the bryan corporation is shown below sa 384644
Financial management The balance sheet for the Bryan Corporation is shown below. Sales for the year were $3,040,000, with 75 percent of sales sold on credit. BRYAN CORPORATION Balance Sheet 201X Assets Liabilities and Stockholders Equity CashAc€¦Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦ $ 50,000 Accounts payableAc€¦Ac€¦Ac€¦Ac€¦Ac€¦.. $220,000 Accounts receivableAc€¦… 280,000 Accrued taxesAc€¦Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦ 80,000 InventoryAc€¦Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦ 240,000 Bonds payable (long term)Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦ 118,000 Plant and equipmentAc€¦… 380,000 Common stockAc€¦Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦.. 100,000 Paid in capitalAc€¦Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦ 150,000 Retained earningsAc€¦Ac€¦Ac€¦Ac€¦Ac€¦.. 282,000 Total assetsAc€¦Ac€¦Ac€¦… $950,000 Total liabilities and stockholders equityAc€¦ $950,000 Compute the following ratios: a. Current ratio. b. Quick ratio. c. Debt to total assets ratio. d. Asset turnover. e. Average collection period. Also I have to show for a 360 day year. please show the formulas im confused with these.
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