
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:Comparative financial statement data for Sarasota Corp. and Bridgeport Corp. two competitors, appear below. All balance sheet data
are as of December 31, 2025.
Net sales
Cost of goods sold
Operating expenses
Interest expense
Income tax expense
Current assets
Plant assets (net)
Current liabilities
Long-term liabilities
Dividends paid on common stock
Weighted-average common shares outstanding
Sarasota Corp.
$1,836,000
1,198,500
288,660
10,940
86,700
397,200
552,800
66,200
109,550
36,000
80,000
Bridgeport Corp.
$632,400
346,800
99,960
3,920
36,720
188,650
141,350
34,300
41,600
15,000
50,000

Transcribed Image Text:(a)
Compute the net income and earnings per share for each company for 2025. (Round earnings per share to 2 decimal places, e.g.
$2.78.)
Sarasota Corp,
Bridgeport Corp. $
(b)
Sarasota Corp.
Bridgeport Corp.
Compute working capital and the current ratio for each company for 2025. (Round current ratio to 1 decimal place, e.g. 0.7:1.)
(c)
(c)
$
Sarasota Corp.
Bridgeport Corp.
$
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$
Net Income
eTextbook and Media
Working Capital
Compute the debt to assets ratio for each company for 2025. (Round debt to assets ratio to 1 decimal place, e.g. 78.9%)
Debt to Assets Ratio
Earnings per Share
%
Current Ratio
:1
:1
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