Cullumber Blossom Corporation Corporation 2022 2022 Net sales $1,815,000 $620,000 Cost of goods sold 1,217,000 369,000 Operating expenses 309,000 95,000 Interest expense 10,000 3,500 Income tax expense 89,000 36,500 Current assets 427,800 131,800 Plant assets (net) 544,700 140,700 72,285 34,610 Current liabilities 147500 29 700

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
Please see below. I need help with this asap please and thank you.
(b)
Compute the debt to assets ratio and the free cash flow for each company for 2022. (Round debt to total assets ratio to 1 decimal
place, e.g. 15.5%.)
Cullumber Corporation
Blossom Corporation
Debt to total assets ratio
24
24
Free cash flow
Attempts: 0 of 1 used
Submit Answer
Save for Later
&
8
6
この
Transcribed Image Text:(b) Compute the debt to assets ratio and the free cash flow for each company for 2022. (Round debt to total assets ratio to 1 decimal place, e.g. 15.5%.) Cullumber Corporation Blossom Corporation Debt to total assets ratio 24 24 Free cash flow Attempts: 0 of 1 used Submit Answer Save for Later & 8 6 この
Comparative financial statement data for Cullumber Corporation and Blossom Corporation, two competitors, appear below. All
balance sheet data are as of December 31, 2022.
Cullumber
Blossom
Corporation
Corporation
2022
2022
Net sales
$1,815,000
$620,000
Cost of goods sold
1,217,000
369,000
Operating expenses
309,000
95,000
Interest expense
10,000
3,500
Income tax expense
89,000
36,500
427,800
131,800
Current assets
Plant assets (net)
544,700
140,700
72,285
34,610
Current liabilities
147,500
29,700
Long-term liabilities
Additional Information:
$154,700
$44,500
Cash from operating activities
$81,200
$21,100
Capital expenditures
$36,700
$15,100
Dividends paid
100,000
50,000
Average number of shares outstanding
(a)
Transcribed Image Text:Comparative financial statement data for Cullumber Corporation and Blossom Corporation, two competitors, appear below. All balance sheet data are as of December 31, 2022. Cullumber Blossom Corporation Corporation 2022 2022 Net sales $1,815,000 $620,000 Cost of goods sold 1,217,000 369,000 Operating expenses 309,000 95,000 Interest expense 10,000 3,500 Income tax expense 89,000 36,500 427,800 131,800 Current assets Plant assets (net) 544,700 140,700 72,285 34,610 Current liabilities 147,500 29,700 Long-term liabilities Additional Information: $154,700 $44,500 Cash from operating activities $81,200 $21,100 Capital expenditures $36,700 $15,100 Dividends paid 100,000 50,000 Average number of shares outstanding (a)
Expert Solution
Step 1 Introduction

The ratio analysis helps to analyze the financial statements of the business with various assets, liabilities and equity of the business. 

trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Internal Control Components
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education