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Comparative financial statement data for Blossom Company and Oriole Company, two competitors, appear below. All balance sheet data are as of December 31, 2022. Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Net cash common by operating activities Capital expenditures Dividends paid on common stock Blossom Company Oriole Company 2022 2022 $2,592,000 1,692,000 407,520 9,980 122,500 496,600 766,000 95,500 157,020 198,720 129,600 51,840 $892,800 489,600 141,120 4,240 51,840 213,840 201,160 48,600 58,470 51,840 28,800 21,600

Comparative financial statement data for Blossom Company and Oriole Company, two competitors, appear below. All balance sheet data are as of December 31, 2022. Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Net cash common by operating activities Capital expenditures Dividends paid on common stock Blossom Company Oriole Company 2022 2022 $2,592,000 1,692,000 407,520 9,980 122,500 496,600 766,000 95,500 157,020 198,720 129,600 51,840 $892,800 489,600 141,120 4,240 51,840 213,840 201,160 48,600 58,470 51,840 28,800 21,600

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Comparative financial statement data for Blossom Company and Oriole Company, two competitors, appear below. All balance sheet data are as of December 31, 2022. Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Net cash common by operating activities Capital expenditures Dividends paid on common stock Blossom Company Oriole Company 2022 2022 $2,592,000 1,692,000 407,520 9,980 122,500 496,600 766,000 95,500 157,020 198,720 129,600 51,840 $892,800 489,600 141,120 4,240 51,840 213,840 201,160 48,600 58,470 51,840 28,800 21,600
Transcribed Image Text:Comparative financial statement data for Blossom Company and Oriole Company, two competitors, appear below. All balance sheet data are as of December 31, 2022. Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Net cash common by operating activities Capital expenditures Dividends paid on common stock Blossom Company Oriole Company 2022 2022 $2,592,000 1,692,000 407,520 9,980 122,500 496,600 766,000 95,500 157,020 198,720 129,600 51,840 $892,800 489,600 141,120 4,240 51,840 213,840 201,160 48,600 58,470 51,840 28,800 21,600
Capital expenditures Dividends paid on common stock Weighted-average common shares outstanding (a) Blossom Company Oriole Company (b) (b) Compute the net income and earnings per share for each company for 2022. (Round Earnings per share to 2 decimal places, eg. $2.78.) Oriole Company Blossom Company Net Income Blossom Company S Oriole Company $ (c) S Compute working capital and the current ratio for each company for 2022. (Round current ratio to 1 decimal place, eg 07:1) Oriole Company Working Capital $ Blossom Company Working Capital $ Compute working capital and the current ratio for each company for 2022. (Round current ratio to 1 decimal place, e.g. 0.7:1.) $ 129,600 51,840 80,000 Earnings per share Debt to Assets Current Ratio % % Current Ratio 28,800 Compute the debt to assets ratio and the free cash flow for each company for 2022. (Round debt to assets to 1 decimal place, e78.9% Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg. (45)) 21,600 Free Cash Flow 50,000 $ $ 11 :1
Transcribed Image Text:Capital expenditures Dividends paid on common stock Weighted-average common shares outstanding (a) Blossom Company Oriole Company (b) (b) Compute the net income and earnings per share for each company for 2022. (Round Earnings per share to 2 decimal places, eg. $2.78.) Oriole Company Blossom Company Net Income Blossom Company S Oriole Company $ (c) S Compute working capital and the current ratio for each company for 2022. (Round current ratio to 1 decimal place, eg 07:1) Oriole Company Working Capital $ Blossom Company Working Capital $ Compute working capital and the current ratio for each company for 2022. (Round current ratio to 1 decimal place, e.g. 0.7:1.) $ 129,600 51,840 80,000 Earnings per share Debt to Assets Current Ratio % % Current Ratio 28,800 Compute the debt to assets ratio and the free cash flow for each company for 2022. (Round debt to assets to 1 decimal place, e78.9% Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg. (45)) 21,600 Free Cash Flow 50,000 $ $ 11 :1
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