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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

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

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 74E
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(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)
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The ratio analysis helps to analyze the financial statements of the business with various assets, liabilities and equity of the business. 

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