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Comparative financial statement data for Cullumber Corporation and Bramble Corporation, two competitors, appear below. All balance sheet data are as of December 31, 2022.
Comparative financial statement data for Cullumber Corporation and Bramble Corporation, two competitors, appear below. All balance sheet data are as of December 31, 2022. Cullumber Corporation Bramble Corporation 2022 2022 Net sales $1,908,000. $657,200 Cost of goods sold 1,245,500 360,400 Operating expenses 299,980 103,880 Interest expense 9,540 4,028 Income tax expense 90,100 38,160 Current assets 442,922 200,138 Plant assets (net) 563,920 148,112 Current liabilities 70,305 35,739 Long-term liabilities 115,010 43,125 (a) Compute working capital and the current ratios for each company for 2022. (Round current ratio to 1 decimal place, e.g. 0.7: 1.) Cullumber Corporation Bramble Corporation Working Capital Current Ratio :1
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