Problem 2-4A Comparative financial statement data for Sheffield Corp. and Monty Corp., two competitors, appear below. All balance sheet data are as of December 31, 2017. Sheffield Corp. Monty Corp. 2017 2017 Net sales $2,232,000 $768,800 Cost of goods sold 1,457,000 421,600 Operating expenses 350,920 121,520 Interest expense 11,160 4,712 Income tax expense 105,400 44,640 Current assets 458,700 193,036 Plant assets (net) 659,680 173,263 Current liabilities 82,243 41,808 Long-term liabilities 134,540 50,448 Net cash provided by operating activities 171,120 44,640 Capital expenditures 111,600 24,800 Dividends paid on common stock 18,600 Weighted average number of shares outstanding 80,000 50,000 44,640 (a) Compute the net income and earnings per share for each company for 2017. (Round Earnings per share to 2 decimal places, e.g. $2.78.) Net Income Earnings per share Sheffield Corps $ Monty Corp. $ (b) Compute working capital and the current ratios for each company for 2017. (Round current ratio to 1 decimal place, e.g. 0.7: 1.) Working Capital Current Ratios Sheffield Corp. $ :1 Monty Corp. :1 $ (c) Compute the debt to assets ratio and the free cash flow for each company for 2017. (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 Sheffield Corp. 96 $ Monty Corp. 96 $