Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Comparative financial statement data for Marigold Corp. and Cheyenne Corp., two competitors, appear below. All balance sheet data are as of December 31, 2022. Marigold

image text in transcribed

image text in transcribedimage text in transcribed

Comparative financial statement data for Marigold Corp. and Cheyenne Corp., two competitors, appear below. All balance sheet data are as of December 31, 2022. Marigold Corp. Cheyenne Corp. 2022 2022 Net sales $2,124,000 $731,600 Cost of goods sold 1,386,500 401,200 Operating expenses 333,940 115,640 Interest expense 9,560 4,280 Income tax expense 100,400 42,480 Current assets 391,000 191,040 Plant assets (net) 610,000 164,960 Current liabilities 78,200 39,800 Long-term liabilities 132,010 38,520 Net cash common by operating activities 162,840 42,480 Capital expenditures 106,200 23,600 Dividends paid on common stock 42,480 17,700 Weighted average common shares outstanding 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, e.g. $2.78.) Net Income Earnings per share Marigold Corp. $ $ Cheyenne Corp. $ $ HA Working Capital Current Ratio Marigold Corp. $ :1 Cheyenne Corp. $ :1 (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, e.g. 78.9%. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Debt to Assets Free Cash Flow Marigold Corp. % $ Cheyenne Corp. % $

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

Accounting

Authors: Michael J. Jones

2nd Edition

0470017791, 978-0470017791

More Books

Students also viewed these Accounting questions