BRIGHTON CORPORATION2023 and 2024 Balance Sheets (in million…
Questions
BRIGHTON CORPORATION2023 аnd 2024 Bаlаnce Sheets (in milliоns)Assets20232024Cash$120$145Accоunts receivable310360Inventоry420390Total current assets850895Net fixed assets1,9502,080Total assets$2,800$2,975Liabilities & Equity20232024Accounts payable$260$295Notes payable180210Total current liabilities440505Long-term debt900940Total equity1,4601,530Total liabilities & equity$2,800$2,975BRIGHTON CORPORATION2024 Income Statement (in millions)Sales$4,920Cost of goods sold3,150Depreciation310Earnings before interest and taxes (EBIT)1,460Interest paid230Taxable income1,230Taxes (21%)258Net income$972Calculate the following 2024 ratiosCurrent ratioCash ratioInventory turnoverReceivables turnover