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Sunland Limited competes in the fast food industry with Culver Limited. Sunland underwent a major expansion in 2021, borrowing a large amount of money
Sunland Limited competes in the fast food industry with Culver Limited. Sunland underwent a major expansion in 2021, borrowing a large amount of money and acquiring a small competitor. The acquisition doubled the number of restaurants that Sunland has. Culver, on the other hand, took a more conservative approach and did not buy any new assets, focusing instead on making existing operations more efficient. Data for the two companies are provided below (in thousands of dollars): 2021 2020 2019 Sunland Total assets $2,090 $993 $960 Sales 3,205 1.650 1,600 Net income 331 147 140 Culver Total assets 837 908 960 Sales 1,846 1,585 2.000 Net income 177 218 210
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