Here are comparative financial statement data for Bramble Company and Debra Company, two competitors. All data are as of December 31, 2022, and December 31, 2021. Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Bramble Company 2022 $1,896,000 1.020,048 257,856 Return on assets 7,584 54,984 322,500 $310.000 520,800 O 64,200 Plant assets (net) Current liabilities Long-term liabilities Common stock, $10 par Retained earnings 2021 Return on common stockholders' equity 500,300 75,600 520,800 64,200 108,400 498,000 172,700 Debra Company 2022 $561,000 297,330 79,662 3,927 6,171 83,500 $78,000 139,800 123,000 34,400 2021 500,300 75,600 90,400 498,000 146,300 Bramble Company Compute the 2022 return on assets and the return on common stockholders' equity ratios for both companies. (Round answers to 1 decimal place, eg. 12.1%) 67.2 29,600 % 139,800 123,000 34,400 29,600 26,000 122,500 122,500 38,000 22,900 28,400 Debra Company 82.0 S

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Here are comparative financial statement data for Bramble Company and Debra Company, two competitors. All data are as of
December 31, 2022, and December 31, 2021.
Net sales
Cost of goods sold
Operating expenses
Interest expense
Income tax expense
Current assets
Plant assets (net)
Current liabilities
Bramble Company
2022
$1,896,000
1.020,048
257,856
Return on assets
7,584
54,984
322,500
520,800
O
64,200
Plant assets (net)
Current liabilities
Long-term liabilities
Common stock, $10 par
Retained earnings
2021
Return on common stockholders' equity
520,800
64,200
Debra Company
$561,000
297,330
79,662
3,927
6,171
$310,000
83,500
$78,000
500,300 139,800 123,000
75,600
29,600
108,400
498,000
172,700
2022
34,400
500,300
2021
498,000
146,300
Bramble Company
75,600
90,400
67.2
%
%
139,800
34,400
28,400
122,500
Compute the 2022 return on assets and the return on common stockholders' equity ratios for both companies. (Round answers to
1 decimal place, eg. 12.1%)
38,000
123,000
Debra Company
29,600
26,000
122,500
22,900
82.0 %
%
Transcribed Image Text:Here are comparative financial statement data for Bramble Company and Debra Company, two competitors. All data are as of December 31, 2022, and December 31, 2021. Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Bramble Company 2022 $1,896,000 1.020,048 257,856 Return on assets 7,584 54,984 322,500 520,800 O 64,200 Plant assets (net) Current liabilities Long-term liabilities Common stock, $10 par Retained earnings 2021 Return on common stockholders' equity 520,800 64,200 Debra Company $561,000 297,330 79,662 3,927 6,171 $310,000 83,500 $78,000 500,300 139,800 123,000 75,600 29,600 108,400 498,000 172,700 2022 34,400 500,300 2021 498,000 146,300 Bramble Company 75,600 90,400 67.2 % % 139,800 34,400 28,400 122,500 Compute the 2022 return on assets and the return on common stockholders' equity ratios for both companies. (Round answers to 1 decimal place, eg. 12.1%) 38,000 123,000 Debra Company 29,600 26,000 122,500 22,900 82.0 % %
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