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Comparative financial statement data for Sarasota Corp. and Bridgeport Corp., two competitors, appear below. All balance sheet data are as of December 31, 2025. Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Dividends paid on common stock Weighted-average common shares outstanding Sarasota Corp. $1,836,000 1,198,500 288.660 10,940 86,700 397,200 552,800 66,200 109,550 36,000 80,000 Bridgeport Corp. $632,400 346,800 99,960 3,920 36,720 188,650 141,350 34,300 41,600 15,000 50,000

Comparative financial statement data for Sarasota Corp. and Bridgeport Corp., two competitors, appear below. All balance sheet data are as of December 31, 2025. Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Dividends paid on common stock Weighted-average common shares outstanding Sarasota Corp. $1,836,000 1,198,500 288.660 10,940 86,700 397,200 552,800 66,200 109,550 36,000 80,000 Bridgeport Corp. $632,400 346,800 99,960 3,920 36,720 188,650 141,350 34,300 41,600 15,000 50,000

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 Sarasota Corp. and Bridgeport Corp. two competitors, appear below. All balance sheet data are as of December 31, 2025. Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Dividends paid on common stock Weighted-average common shares outstanding Sarasota Corp. $1,836,000 1,198,500 288,660 10,940 86,700 397,200 552,800 66,200 109,550 36,000 80,000 Bridgeport Corp. $632,400 346,800 99,960 3,920 36,720 188,650 141,350 34,300 41,600 15,000 50,000
Transcribed Image Text:Comparative financial statement data for Sarasota Corp. and Bridgeport Corp. two competitors, appear below. All balance sheet data are as of December 31, 2025. Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Dividends paid on common stock Weighted-average common shares outstanding Sarasota Corp. $1,836,000 1,198,500 288,660 10,940 86,700 397,200 552,800 66,200 109,550 36,000 80,000 Bridgeport Corp. $632,400 346,800 99,960 3,920 36,720 188,650 141,350 34,300 41,600 15,000 50,000
(a) Compute the net income and earnings per share for each company for 2025. (Round earnings per share to 2 decimal places, e.g. $2.78.) Sarasota Corp, Bridgeport Corp. $ (b) Sarasota Corp. Bridgeport Corp. Compute working capital and the current ratio for each company for 2025. (Round current ratio to 1 decimal place, e.g. 0.7:1.) (c) (c) $ Sarasota Corp. Bridgeport Corp. $ Save for Later $ Net Income eTextbook and Media Working Capital Compute the debt to assets ratio for each company for 2025. (Round debt to assets ratio to 1 decimal place, e.g. 78.9%) Debt to Assets Ratio Earnings per Share % Current Ratio :1 :1 Attempts: 0 of 3 used Submit Answer
Transcribed Image Text:(a) Compute the net income and earnings per share for each company for 2025. (Round earnings per share to 2 decimal places, e.g. $2.78.) Sarasota Corp, Bridgeport Corp. $ (b) Sarasota Corp. Bridgeport Corp. Compute working capital and the current ratio for each company for 2025. (Round current ratio to 1 decimal place, e.g. 0.7:1.) (c) (c) $ Sarasota Corp. Bridgeport Corp. $ Save for Later $ Net Income eTextbook and Media Working Capital Compute the debt to assets ratio for each company for 2025. (Round debt to assets ratio to 1 decimal place, e.g. 78.9%) Debt to Assets Ratio Earnings per Share % Current Ratio :1 :1 Attempts: 0 of 3 used Submit Answer
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