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.

Compute the following ratios:
a. Current ratio.
b. Quick ratio.
c. Debt-to-total-assets ratio.
d. Asset turnover.
e. Average collection period.

BRYAN CORPORATION Balance Sheet 201X Assets Liabilities and Stockholders' Equity Cash 50,000 Accounts payable 220,000 80,000 ...118,000 ..100,000 150,000 282,000 280,000 Accrued taxes Inventory Plant and equipment 240,000 Bonds payable (long-term) 380,000 Common stock ..3 Paid-in capital Retained earnings Total liabilities and Total assets 950,000 stockholders ' equity $950,000