Question 7 Comparative financial statement data for Cullumber Company and Crane Company, two competitors, appear below. All balance sheet data are as of December 31, 2017. Cullumber Crane Company Company 2017 2017 Net sales $2,700,000 $930,000 Cost of goods sold 1,762,500 510,000 Operating expenses 424,500 147,000 Interest expense 13,500 5,700 Income tax expense 127,500 54,000 Current assets 411,100 194,636 Plant assets (net) 798,000 209,592 Current liabilities 99,488 50,574 Long-term liabilities 162,750 61,026 Net cash provided by operating activities 207,000 54,000 Capital expenditures 135,000 30,000 Dividends paid on common stock 54,000 22,500 Weighted-average number of shares outstanding 80,000 50,000

Skysong Inc., a greeting card company, had the following statements prepared as of December 31, 2020. SKYSONG INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 12/31/20 12/31/19 Cash $6,100 $6.900 Accounts receivable 61.900 50,500 Short-term debt investments (available-for-sale) 34,800 18,200 Inventory 39,900 59,800 Prepaid rent 4,900 4.000 Equipment 155,500 131,200 Accumulated depreciation-equipment (34,800 ) (25,300 ) Copyrights 45,700 50.200 Total assets $314,000 $295,500 Accounts payable $46,200 $39,700 Income taxes payable 4,000 6,100 Salaries and wages payable 7,900 4,000 Short-term loans payable 7,900 10,000 Long-term loans payable 59.800 68,600 Common stock, $10 par 100,000 100,000 Contributed capital, common stock 30,000 30,000 Retained earnings 58,200 37,100 Total liabilities & stockholders' equity $314,000 $295,500

One Stop, Inc. Comparative Balance Sheet December 31, 2018 and 2017   2018 2017 Assets Current Assets:     Cash $26,800 $14,900 Accounts Receivable 26,700 25,500 Merchandise Inventory 79,900 91,900 Long-term Assets:     Land 35,400 8,000 Plant Assets 117,550 109,150 Accumulated Depreciation—Plant Assets (19,650) (15,450) Total Assets $266,700 $234,000 Liabilities Current Liabilities:     Accounts Payable $35,000 $30,700 Accrued Liabilities 28,600 30,200 Long-term Liabilities:     Notes Payable 73,000 105,000 Total Liabilities 136,600 165,900 Stockholders' Equity Common Stock, no par 88,200 64,300 Retained Earnings 41,900 3,800 Total Stockholders' Equity 130,100 68,100 Total Liabilities and Stockholders' Equity $266,700 $234,000   One Stop, Inc.   Income Statement   Year Ended December 31,…

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   Compute the 2022 return on assets and the return on common stockholders’ equity ratios for both companies. (Round answers to 1 decimal…

Using the financial statements and using these ratios from the picture, discuss the performance of Cobham PLC in 2016.

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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. Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Bramble Company 2022 $1,896,000 1.020,048 257,856 Return on assets 7,584 54,984 322,500 520,800 O 64,200 Plant assets (net) Current liabilities Long-term liabilities Common stock, $10 par Retained earnings 2021 Return on common stockholders' equity 520,800 64,200 Debra Company $561,000 297,330 79,662 3,927 6,171 $310,000 83,500 $78,000 500,300 139,800 123,000 75,600 29,600 108,400 498,000 172,700 2022 34,400 500,300 2021 498,000 146,300 Bramble Company 75,600 90,400 67.2 % % 139,800 34,400 28,400 122,500 Compute the 2022 return on assets and the return on common stockholders' equity ratios for both companies. (Round answers to 1 decimal place, eg. 12.1%) 38,000 123,000 Debra Company 29,600…

Problem 17-2A (Algo) Ratios, common-size statements, and trend percents LO P1, [The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements. For Years Ended December 31 2021 Sales: Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets 2020 $436,580 $ 334,456 262,821 173,759 61,994 39,292 Long-term investments Plant assets, net Total assets KORBIN COMPANY Comparative Balance Sheets December 31 Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 212,045 122,411 46, 155 101,286 72,473 13,480 $ 58,993 $ 37,225 29,432 75,587 46,824 9,599 2021 $ 54,789 0 100, 200 $154,989 $ 22,628 72,000 9,000 51,361 2019 $ 232,100 148,544 83,556 30,637 19,264 49,901 33,655 6,832 $ 26,823 2020 $36,670 900 91,178…

[The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31 Sales. Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income Assets Current assets Long-term investments. Plant assets, net Total assets Liabilities and Equity Current liabilities KORBIN COMPANY Comparative Balance Sheets 2020 2021 $548,688 $ 420,340 330,310 263,974 218,378 156,366 77,914 58,007 49,382 36,990 127,296 94,997 91,082 61,369 16,941 12,581 $ 74,141 $ 48,788 Common stock Other paid-in capital Retained earnings Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income December 31 2021 $ 62,574 % 0 % $ 41,881 $ 55,985 1,200 3,920 114,438 103,962 61,920 $177,012 $ 147,043 $ 121,825 $ 25,844 65,000 8,125…