Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Comparative financial statement data for Blossom Company and Oriole Company, two competitors, appear below. All balance sheet data are as of December 31, 2022. Blossom

image text in transcribed
image text in transcribed
image text in transcribed
Comparative financial statement data for Blossom Company and Oriole Company, two competitors, appear below. All balance sheet data are as of December 31, 2022. Blossom Company Oriole Company 2022 2022 $ 2,592,000 $ 892,800 Net sales 1,692,000 489,600 407,520 141,120 A 9.980 4,240 122.500 51,840 Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Net cash common by operating activities 496,600 213,840 766,000 201,160 95,500 48.600 58,470 157.020 198,720 51.840 Capital expenditures 129,600 28.800 Dividends pald on common stock 51,840 21,600 129,600 28,800 Capital expenditures Dividends paid on common stock Weighted average common shares outstanding 51,840 21,600 80,000 50,000 (a) Compute the net income and earnings per share for each company for 2022. (Round Earnings per share to 2 decimal places, eg. $2.78) Net Income Earnings per share Blossom Company $ $ Oriole Company $ (b) Compute working capital and the current ratio for each company for 2022. (Round current ratio to 1 decimal place, es. 07:1.) Working Capital Current Ratio Blossom Company Oriole Company (b) Compute working capital and the current ratio for each company for 2022. (Round current ratio to 1 decimal place, 6.8.0.7:1) Working Capital Current Ratio Blossom Company $ :1 Oriole Company (c) Compute the debt to assets ratio and the free cash flow for each company for 2022 (Round debt to assets to 1 decimal place, est 78.9% Enter negative amounts using either a negative sign preceding the number ef-45 or parentheses eg. (451) Debt to Assets Free Cash Flow Blossom Company % $ Oriole Company $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Accounting Volume 1 Financial Accounting

Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax

1st Edition

1593995946, 978-1593995942

More Books

Students also viewed these Accounting questions

Question

Describe the concept of corporate social responsibility.

Answered: 1 week ago

Question

Explore the concept of business ethics.

Answered: 1 week ago

Question

Discuss human resource management issues for small businesses.

Answered: 1 week ago