Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Here are comparative financial statement data for Bramble Company and Debra Company, two competitors. All data are as of December 31, 2022, and December
Here are comparative financial statement data for Bramble Company and Debra Company, two competitors. All data are as of December 31, 2022, and December 31, 2021. Bramble Company Debra Company 2022 2021 2022 2021 Net sales $1,896,000 $561,000 Cost of goods sold 1,020,048 297,330 Operating expenses 257,856 79,662 Interest expense 7,584 3,927 Income tax expense 54,984 6,171 Current assets 322,500 $310,000 83,500 $78,000 Plant assets (net) 520,800 500,300 139,800 123,000 Current liabilities 64,200 75,600 34,400 29,600 Long-term liabilities 108,400 90,400 28,400 26,000 Common stock, $10 par 498,000 498,000 122,500 122,500 Retained earnings 172,700 146,300 38,000 22,900 Prepare a vertical analysis of the 2022 income statement data for Bramble Company and Debra Company. (Round percentages to 1 decimal place, e.g. 12.1%.) Condensed Income Statement Debra Company Bramble Company Dollars Percer Dollars Percent % % % < < $ $ % % % % % % $ $ (b1) Compute the 2022 return on assets and the return on common stockholders' equity ratios for both companies. (Round answers to 1 decimal place, e.g. 12.1%.) Bramble Company Debra Company % Return on assets % Return on common stockholders' equity % % Here are comparative financial statement data for Bramble Company and Debra Company, two competitors. All data are as of December 31, 2022, and December 31, 2021. Bramble Company Debra Company 2022 2021 2022 2021 Net sales $1,896,000 $561,000 Cost of goods sold 1,020,048 297,330 Operating expenses 257,856 79,662 Interest expense 7,584 3,927 Income tax expense 54,984 6,171 Current assets 322,500 $310,000 83,500 $78,000 Plant assets (net) 520,800 500,300 139,800 123,000 Current liabilities 64,200 75,600 34,400 29,600 Long-term liabilities 108,400 90,400 28,400 26,000 Common stock, $10 par 498,000 498,000 122,500 122,500 Retained earnings 172,700 146,300 38,000 22,900 Prepare a vertical analysis of the 2022 income statement data for Bramble Company and Debra Company. (Round percentages to 1 decimal place, e.g. 12.1%.) Condensed Income Statement Debra Company Bramble Company Dollars Percer Dollars Percent % % % < < $ $ % % % % % % $ $ (b1) Compute the 2022 return on assets and the return on common stockholders' equity ratios for both companies. (Round answers to 1 decimal place, e.g. 12.1%.) Bramble Company Debra Company % Return on assets % Return on common stockholders' equity % % Here are comparative financial statement data for Bramble Company and Debra Company, two competitors. All data are as of December 31, 2022, and December 31, 2021. Bramble Company Debra Company 2022 2021 2022 2021 Net sales $1,896,000 $561,000 Cost of goods sold 1,020,048 297,330 Operating expenses 257,856 79,662 Interest expense 7,584 3,927 Income tax expense 54,984 6,171 Current assets 322,500 $310,000 83,500 $78,000 Plant assets (net) 520,800 500,300 139,800 123,000 Current liabilities 64,200 75,600 34,400 29,600 Long-term liabilities 108,400 90,400 28,400 26,000 Common stock, $10 par 498,000 498,000 122,500 122,500 Retained earnings 172,700 146,300 38,000 22,900 Prepare a vertical analysis of the 2022 income statement data for Bramble Company and Debra Company. (Round percentages to 1 decimal place, e.g. 12.1%.) Condensed Income Statement Debra Company Bramble Company Dollars Percer Dollars Percent % % % < < $ $ % % % % % % $ $ (b1) Compute the 2022 return on assets and the return on common stockholders' equity ratios for both companies. (Round answers to 1 decimal place, e.g. 12.1%.) Bramble Company Debra Company % Return on assets % Return on common stockholders' equity % % Here are comparative financial statement data for Bramble Company and Debra Company, two competitors. All data are as of December 31, 2022, and December 31, 2021. Bramble Company Debra Company 2022 2021 2022 2021 Net sales $1,896,000 $561,000 Cost of goods sold 1,020,048 297,330 Operating expenses 257,856 79,662 Interest expense 7,584 3,927 Income tax expense 54,984 6,171 Current assets 322,500 $310,000 83,500 $78,000 Plant assets (net) 520,800 500,300 139,800 123,000 Current liabilities 64,200 75,600 34,400 29,600 Long-term liabilities 108,400 90,400 28,400 26,000 Common stock, $10 par 498,000 498,000 122,500 122,500 Retained earnings 172,700 146,300 38,000 22,900 Prepare a vertical analysis of the 2022 income statement data for Bramble Company and Debra Company. (Round percentages to 1 decimal place, e.g. 12.1%.) Condensed Income Statement Debra Company Bramble Company Dollars Percer Dollars Percent % % % < < $ $ % % % % % % $ $ (b1) Compute the 2022 return on assets and the return on common stockholders' equity ratios for both companies. (Round answers to 1 decimal place, e.g. 12.1%.) Bramble Company Debra Company % Return on assets % Return on common stockholders' equity % %
Step by Step Solution
★★★★★
3.42 Rating (171 Votes )
There are 3 Steps involved in it
Step: 1
Bramble Company Debra Company Particular Dollars Percent Dollars Percent Net Sales 1896000 1000 5610...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