Cullumber Limited competes in the fast food industry with Bramble Limited. Cullumber underwent a major expansion in 2021, borrowing a large amount of money and acquiring a small competitor. The acquisition doubled the number of restaurants that Cullumber has. Bramble, on the other hand, took a more conservative approach and did not buy any new assets, focusing instead on making existing operations more efficient. Data for the two companies are provided below (in thousands of dollars): Cullumber Total assets Sales Net income 2021 $1,850 3,161 361 2020 $1,099 1,490 144 2019 $1,070 1,600 140
Cullumber Limited competes in the fast food industry with Bramble Limited. Cullumber underwent a major expansion in 2021, borrowing a large amount of money and acquiring a small competitor. The acquisition doubled the number of restaurants that Cullumber has. Bramble, on the other hand, took a more conservative approach and did not buy any new assets, focusing instead on making existing operations more efficient. Data for the two companies are provided below (in thousands of dollars): Cullumber Total assets Sales Net income 2021 $1,850 3,161 361 2020 $1,099 1,490 144 2019 $1,070 1,600 140
Chapter1: Financial Statements And Business Decisions
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