Please see below. I need help with this asap please and thank you. (b)Compute the debt to assets ratio and the free cash flow for each company for 2022. (Round debt to total assets ratio to 1 decimalplace, e.g. 15.5%.)Cullumber CorporationBlossom CorporationDebt to total assets ratio2424Free cash flowAttempts: 0 of 1 usedSubmit AnswerSave for Later&86この Comparative financial statement data for Cullumber Corporation and Blossom Corporation, two competitors, appear below. Allbalance sheet data are as of December 31, 2022.CullumberBlossomCorporationCorporation20222022Net sales$1,815,000$620,000Cost of goods sold1,217,000369,000Operating expenses309,00095,000Interest expense10,0003,500Income tax expense89,00036,500427,800131,800Current assetsPlant assets (net)544,700140,70072,28534,610Current liabilities147,50029,700Long-term liabilitiesAdditional Information:$154,700$44,500Cash from operating activities$81,200$21,100Capital expenditures$36,700$15,100Dividends paid100,00050,000Average number of shares outstanding(a)

Cullumber Blossom Corporation Corporation 2022 2022 Net sales $1,815,000 $620,000 Cost of goods sold 1,217,000 369,000 Operating expenses 309,000 95,000 Interest expense 10,000 3,500 Income tax expense 89,000 36,500 Current assets 427,800 131,800 Plant assets (net) 544,700 140,700 72,285 34,610 Current liabilities 147500 29 700

Cullumber Blossom Corporation Corporation 2022 2022 Net sales $1,815,000 $620,000 Cost of goods sold 1,217,000 369,000 Operating expenses 309,000 95,000 Interest expense 10,000 3,500 Income tax expense 89,000 36,500 Current assets 427,800 131,800 Plant assets (net) 544,700 140,700 72,285 34,610 Current liabilities 147500 29 700

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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