The balance sheet for Bryan Corporation is given below. Sales for the year were $3,180,000, with...
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The balance sheet for Bryan Corporation is given below. Sales for the year were $3,180,000, with 75 percent of sales sold on credit. Cash Accounts receivable Inventory Plant and equipment Total assets Assets a. Current ratio b. Quick ratio Debt-to-total-assets ratio BRYAN CORPORATION Balance Sheet Dec. 31, 20XX d. Asset turnover e. Average collection period $45,000 380,000 420,000 480,000 $1,325,000 Accounts payable Accrued taxes Bonds payable (long term) Common stock Retained earnings Compute the following ratios: (Use 365 days in a year. Do not round Intermediate calculation. Round the final answers to 2 decimal places.) Liabilities and Equity Total liabilities and equity % X days $290,000 45,000 290,000 420,000 280,000 $1,325,000 The balance sheet for Bryan Corporation is given below. Sales for the year were $3,180,000, with 75 percent of sales sold on credit. Cash Accounts receivable Inventory Plant and equipment Total assets Assets a. Current ratio b. Quick ratio Debt-to-total-assets ratio BRYAN CORPORATION Balance Sheet Dec. 31, 20XX d. Asset turnover e. Average collection period $45,000 380,000 420,000 480,000 $1,325,000 Accounts payable Accrued taxes Bonds payable (long term) Common stock Retained earnings Compute the following ratios: (Use 365 days in a year. Do not round Intermediate calculation. Round the final answers to 2 decimal places.) Liabilities and Equity Total liabilities and equity % X days $290,000 45,000 290,000 420,000 280,000 $1,325,000
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To calculate the requested financial ratios using the balance sheet provided and the additional sales information here are the formulas and calculatio... View the full answer
Related Book For
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
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