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INCOME STATEMENTS Net sales COGS (excl. depr.) Depreciation Other operating expenses EBIT Interest expense Pre-tax earnings Taxes (40%) NI before pref. div. Preferred div. Net income Other Data Common dividends Addition to RE Tax rate Shares of common stock Earnings per share Dividends per share Price per share 2014 $ 4,760 3,560 170 480 550 100 450 180 270 8 S 262 $48 $214 40% 50 $5.24 $0.96 $40.00 S S S $5,000 3,800 200 500 500 120 380 Total assets 152 228 Liabilities and equity 8 Accounts payable 220 Accruals Notes payable Total CL Long-term bonds Total liabilities $50 $170 40% Preferred stock 50 $4.40 $1.00 $27.00 S S S BALANCE SHEETS 2015 Assets Cash ST Investments Accounts receivable Inventories Total CA Net PP&E S Common stock Retained earnings Total common equity Total liabs. & equity 2014 60 50 40 380 500 820 1,000 $ 1,300 $ 1,550 1,700 2,000 $ 3,000 $ 3,550 S 190 S 200 280 300 130 S 600 280 780 1,200 1,000 $ 1,600 $ 1,980 100 100 500 500 800 970 $ 1,300 $ 1,470 $3,000 $ 3,550 S 2015 S

INCOME STATEMENTS Net sales COGS (excl. depr.) Depreciation Other operating expenses EBIT Interest expense Pre-tax earnings Taxes (40%) NI before pref. div. Preferred div. Net income Other Data Common dividends Addition to RE Tax rate Shares of common stock Earnings per share Dividends per share Price per share 2014 $ 4,760 3,560 170 480 550 100 450 180 270 8 S 262 $48 $214 40% 50 $5.24 $0.96 $40.00 S S S $5,000 3,800 200 500 500 120 380 Total assets 152 228 Liabilities and equity 8 Accounts payable 220 Accruals Notes payable Total CL Long-term bonds Total liabilities $50 $170 40% Preferred stock 50 $4.40 $1.00 $27.00 S S S BALANCE SHEETS 2015 Assets Cash ST Investments Accounts receivable Inventories Total CA Net PP&E S Common stock Retained earnings Total common equity Total liabs. & equity 2014 60 50 40 380 500 820 1,000 $ 1,300 $ 1,550 1,700 2,000 $ 3,000 $ 3,550 S 190 S 200 280 300 130 S 600 280 780 1,200 1,000 $ 1,600 $ 1,980 100 100 500 500 800 970 $ 1,300 $ 1,470 $3,000 $ 3,550 S 2015 S

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 24E
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Bruno Inc.'s Financial Statement for years 2014-2015. Compute for the Bruno Inc. Year 2015 Debt to Equity Ratio. (Answer Format: 12.23%, if computed answer is 12.343% answer should be 12.34%, if computed answer is 12.347% answer should be 12.35%)

INCOME STATEMENTS Net sales COGS (excl. depr.) Depreciation Other operating expenses EBIT Interest expense Pre-tax earnings Taxes (40%) NI before pref. div. Preferred div. Net income Other Data Common dividends Addition to RE Tax rate Shares of common stock Earnings per share Dividends per share Price per share 2014 $ 4,760 3,560 170 480 $ 550 100 $ 450 180 $ 270 8 $ 262 $48 $214 40% 50 $5.24 $0.96 $40.00 BALANCE SHEETS 2015 Assets 5,000 Cash 3,800 ST Investments 200 Accounts receivable 500 Inventories $ 500 Total CA 120 Net PP&E $ 380 Total assets 152 $ 228 Liabilities and equity 8 Accounts payable $ 220 Accruals Notes payable Total CL Long-term bonds $50 $170 Total liabilities 40% Preferred stock 50 Common stock $4.40 Retained earnings $1.00 Total common equity Total liabs. & equity $27.00 $ 2014 $ 60 40 380 820 $ 1,300 1,700 $ 3,000 $ $ 1,000 $ 1,600 100 500 800 $ 1,300 $ 3,000 2015 50 500 1,000 $ 1,550 2,000 $ 3,550 200 300 280 780 1,200 $ 1,980 100 500 970 $ 1,470 $ 3,550 $ 190 $ 280 130 600 $
Transcribed Image Text:INCOME STATEMENTS Net sales COGS (excl. depr.) Depreciation Other operating expenses EBIT Interest expense Pre-tax earnings Taxes (40%) NI before pref. div. Preferred div. Net income Other Data Common dividends Addition to RE Tax rate Shares of common stock Earnings per share Dividends per share Price per share 2014 $ 4,760 3,560 170 480 $ 550 100 $ 450 180 $ 270 8 $ 262 $48 $214 40% 50 $5.24 $0.96 $40.00 BALANCE SHEETS 2015 Assets 5,000 Cash 3,800 ST Investments 200 Accounts receivable 500 Inventories $ 500 Total CA 120 Net PP&E $ 380 Total assets 152 $ 228 Liabilities and equity 8 Accounts payable $ 220 Accruals Notes payable Total CL Long-term bonds $50 $170 Total liabilities 40% Preferred stock 50 Common stock $4.40 Retained earnings $1.00 Total common equity Total liabs. & equity $27.00 $ 2014 $ 60 40 380 820 $ 1,300 1,700 $ 3,000 $ $ 1,000 $ 1,600 100 500 800 $ 1,300 $ 3,000 2015 50 500 1,000 $ 1,550 2,000 $ 3,550 200 300 280 780 1,200 $ 1,980 100 500 970 $ 1,470 $ 3,550 $ 190 $ 280 130 600 $
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