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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%)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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 2014 2015 BALANCE SHEETS Assets Cash 2014 2015 Net sales $ 4,760 S 5,000 S 60 50 3,560 3,800 ST Investments 40 . COGS (excl. depr.) Depreciation 170 200 Accounts receivable 380 500 480 500 Inventories 820 1,000 Other operating expenses EBIT S 550 500 Total CA $ 1,300 $ 1,550 Interest expense 100 120 Net PP&E 1,700 2,000 Pre-tax earnings S 450 S 380 Total assets $ 3,000 $ 3,550 . Taxes (40%) 180 152 NI before pref. div. S 270 $ 228 Liabilities and equity Preferred div. 8 8 S 200 Accounts payable Accruals Net income $ 262 $ 220 300 280 Notes payable Total CL Other Data S 780 Common dividends $48 $50 1,000 1,200 Long-term bonds Total liabilities Addition to RE $214 $170 $ 1,600 $ 1,980 Tax rate 40% 40% 100 100 Preferred stock Common stock Shares of common stock 50 50 500 500 Earnings per share $5.24 $4.40 Retained earnings 800 970 Dividends per share $0.96 $1.00 Total common equity S 1,300 $ 1,470 Price per share $40.00 $27.00 Total liabs & equity $ 3,000 $ 3,550 s S 190 $ 280 130 600 S
Transcribed Image Text: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 2014 2015 BALANCE SHEETS Assets Cash 2014 2015 Net sales $ 4,760 S 5,000 S 60 50 3,560 3,800 ST Investments 40 . COGS (excl. depr.) Depreciation 170 200 Accounts receivable 380 500 480 500 Inventories 820 1,000 Other operating expenses EBIT S 550 500 Total CA $ 1,300 $ 1,550 Interest expense 100 120 Net PP&E 1,700 2,000 Pre-tax earnings S 450 S 380 Total assets $ 3,000 $ 3,550 . Taxes (40%) 180 152 NI before pref. div. S 270 $ 228 Liabilities and equity Preferred div. 8 8 S 200 Accounts payable Accruals Net income $ 262 $ 220 300 280 Notes payable Total CL Other Data S 780 Common dividends $48 $50 1,000 1,200 Long-term bonds Total liabilities Addition to RE $214 $170 $ 1,600 $ 1,980 Tax rate 40% 40% 100 100 Preferred stock Common stock Shares of common stock 50 50 500 500 Earnings per share $5.24 $4.40 Retained earnings 800 970 Dividends per share $0.96 $1.00 Total common equity S 1,300 $ 1,470 Price per share $40.00 $27.00 Total liabs & equity $ 3,000 $ 3,550 s S 190 $ 280 130 600 S
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