FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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5. Bruno Inc.'s Financial Statement for years 2014-2015. Compute for the Bruno Inc. Year 2015 Debt to Asset Ratio. (Answer Format: 12.23%, if computed answer is 12.343% answer should be 12.34%, if computed answer is 12.347% answer should be 12.35%)*

INCOME STATEMENTS
Net sales
COGS (excl. depr.)
Depreciation
Other operating expenses
EBIT
Interest expense
Pre-tax earnings
Taxes (40%)
NI before pref. div.
Preferred div.
Net income
Other Data
Common dividends
Addition to RE
Tax rate
Shares of common stock
Earnings per share
Dividends per share
Price per share
2014
$ 4,760
3,560
170
480
$
550
100
$
450
180
$
270
8
$ 262
$48
$214
40%
50
$5.24
$0.96
$40.00
BALANCE SHEETS
2015 Assets
5,000
Cash
3,800
ST Investments
200 Accounts receivable
500
Inventories
$
500
Total CA
120
Net PP&E
$ 380
Total assets
152
$
228 Liabilities and equity
8
Accounts payable
$
220
Accruals
Notes payable
Total CL
Long-term bonds
$50
$170
Total liabilities
40%
Preferred stock
50
Common stock
$4.40
Retained earnings
$1.00
Total common equity
Total liabs. & equity
$27.00
$
2014
$
60
40
380
820
$ 1,300
1,700
$ 3,000
$
$
1,000
$ 1,600
100
500
800
$ 1,300
$ 3,000
2015
50
500
1,000
$ 1,550
2,000
$ 3,550
200
300
280
780
1,200
$ 1,980
100
500
970
$ 1,470
$ 3,550
$
190 $
280
130
600 $
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Transcribed Image Text:INCOME STATEMENTS Net sales COGS (excl. depr.) Depreciation Other operating expenses EBIT Interest expense Pre-tax earnings Taxes (40%) NI before pref. div. Preferred div. Net income Other Data Common dividends Addition to RE Tax rate Shares of common stock Earnings per share Dividends per share Price per share 2014 $ 4,760 3,560 170 480 $ 550 100 $ 450 180 $ 270 8 $ 262 $48 $214 40% 50 $5.24 $0.96 $40.00 BALANCE SHEETS 2015 Assets 5,000 Cash 3,800 ST Investments 200 Accounts receivable 500 Inventories $ 500 Total CA 120 Net PP&E $ 380 Total assets 152 $ 228 Liabilities and equity 8 Accounts payable $ 220 Accruals Notes payable Total CL Long-term bonds $50 $170 Total liabilities 40% Preferred stock 50 Common stock $4.40 Retained earnings $1.00 Total common equity Total liabs. & equity $27.00 $ 2014 $ 60 40 380 820 $ 1,300 1,700 $ 3,000 $ $ 1,000 $ 1,600 100 500 800 $ 1,300 $ 3,000 2015 50 500 1,000 $ 1,550 2,000 $ 3,550 200 300 280 780 1,200 $ 1,980 100 500 970 $ 1,470 $ 3,550 $ 190 $ 280 130 600 $
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