Bruno Inc.'s Financial Statement for years 2014-2015. Compute for theBruno Inc. Year 2015 Debt to Asset Ratio. (Answer Format: 12.23%, ifcomputed answer is 12.343% answer should be 12.34%, if computedanswer is 12.347% answer should be 12.35%)INCOME STATEMENTS20142015BALANCE SHEETSAssetsCash20142015Net sales$ 4,760 S 5,000S 60503,5603,800ST Investments40.COGS (excl. depr.)Depreciation170200Accounts receivable380500480500Inventories8201,000Other operating expensesEBITS 550500Total CA$ 1,300$ 1,550Interest expense100120Net PP&E1,7002,000Pre-tax earningsS450S380Total assets$ 3,000$ 3,550.Taxes (40%)180152NI before pref. div.S270$ 228 Liabilities and equityPreferred div.88S200Accounts payableAccrualsNet income$262$ 220300280Notes payableTotal CLOther DataS780Common dividends$48$501,0001,200Long-term bondsTotal liabilitiesAddition to RE$214$170$ 1,600$ 1,980Tax rate40%40%100100Preferred stockCommon stockShares of common stock5050500500Earnings per share$5.24$4.40Retained earnings800970Dividends per share$0.96$1.00Total common equityS 1,300 $ 1,470Price per share$40.00$27.00Total liabs & equity$ 3,000$ 3,550sS190 $280130600 S

Financial ratios are those which provide a summary of the accounts of a company and helps an…

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%)

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%)

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter9: Long-term Liabilities

Section: Chapter Questions

Problem 105.5C

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