Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Comparative financial statement data for Sunland Corporation and Marigold Corporation, two competitors, appear below. All balance sheet data are as of December 31, 2022.
Comparative financial statement data for Sunland Corporation and Marigold Corporation, two competitors, appear below. All balance sheet data are as of December 31, 2022. Sunland Corporation Marigold Corporation 2022 2022 Net sales $2,088,000 $719,200 Cost of goods sold 1,363,000 394,400 Operating expenses 328,280 113,680 Interest expense 10,440 4408 Income tax expense 98,600 41.760 Current assets 446,235 195,555 Plant assets (net) 617,120 162,084 Current liabilities 76.937 39,111 Long-term liabilities. 125,860 47,193 Compute working capital and the current ratios for each company for 2022. (Round current ratio to 1 decimal place, e.g. 0.7: 1.) Sunland Corporation Marigold Corporation Working Capital Current Ratio :1 :1 Compute the debt to assets ratio for each company for 2022. (Round debt to assets ratio to 1 decimal place, e.g. 78.9%.) Sunland Corporation Marigold Corporation Debt to Assets Ratio % %
Step by Step Solution
There are 3 Steps involved in it
Step: 1
1 Working Capital and Current Ratios Working Capital Sunland Corporation 446235 C...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started