Bruno Inc.'s Financial Statement for years 2014-2015. Compute for the Bruno Inc. Year 2015 Debt to Asset Ratio. (Answer Format: 12.23%, if computed answer is 12.343% answer should be 12.34%, if computed answer is 12.347% answer should be 12.35%) INCOME STATEMENTSNet salesCOGS (excl. depr.)DepreciationOther operating expensesEBITInterest expensePre-tax earningsTaxes (40%)NI before pref. div.Preferred div.Net incomeOther DataCommon dividendsAddition to RETax rateShares of common stockEarnings per shareDividends per sharePrice per share2014$ 4,7603,560170480$550100$450180$2708$ 262$48$21440%50$5.24$0.96$40.00BALANCE SHEETS2015 Assets5,000Cash3,800ST Investments200 Accounts receivable500Inventories$500Total CA120Net PP&E$ 380Total assets152$228 Liabilities and equity8Accounts payable$220AccrualsNotes payableTotal CLLong-term bonds$50$170Total liabilities40%Preferred stock50Common stock$4.40Retained earnings$1.00Total common equityTotal liabs. & equity$27.00$2014$6040380820$ 1,3001,700$ 3,000$$1,000$ 1,600100500800$ 1,300$ 3,0002015505001,000$ 1,5502,000$ 3,5502003002807801,200$ 1,980100500970$ 1,470$ 3,550$190 $280130600 $

Debt to Asset is a leverage Ratio that compares a company's total liabilities (both short-term…

INCOME STATEMENTS Net sales COGS (excl. depr.) Depreciation Other operating expenses EBIT Interest expense Pre-tax earnings Taxes (40%) NI before pref. div. Preferred div. Net income Other Data Common dividends Addition to RE Tax rate Shares of common stock Earnings per share Dividends per share Price per share BALANCE SHEETS 2015 Assets $ 5,000 Cash 3,800 ST Investments 200 Accounts receivable 500 Inventories 500 Total CA 120 Net PP&E 380 Total assets 152 228 Liabilities and equity 8 Accounts payable 220 Accruals $50 Notes payable Total CL Long-term bonds Total liabilities Preferred stock $170 40% 50 $4.40 Common stock Retained earnings Total common equity Total liabs. & equity $1.00 $27.00 2014 $ 4,760 3,560 170 480 S 550 $ 100 S 450 $ 180 $ 270 8 $ 262 $48 $214 40% 50 $5.24 $0.96 $40.00 F $ $ 2014 2015 $ 60 50 40 380 500 820 1,000 $ 1,300 $ 1,550 1,700 2,000 $ 3,000 $ 3,550 S 190 $ 200 280 300 130 280 $ 600 S 780 1,000 1,200 $ 1,600 $ 1,980 100 100 500 500 800 970 $ 1,300 $ 1,470 $ 3,000 $ 3,550 $

INCOME STATEMENTS Net sales COGS (excl. depr.) Depreciation Other operating expenses EBIT Interest expense Pre-tax earnings Taxes (40%) NI before pref. div. Preferred div. Net income Other Data Common dividends Addition to RE Tax rate Shares of common stock Earnings per share Dividends per share Price per share BALANCE SHEETS 2015 Assets $ 5,000 Cash 3,800 ST Investments 200 Accounts receivable 500 Inventories 500 Total CA 120 Net PP&E 380 Total assets 152 228 Liabilities and equity 8 Accounts payable 220 Accruals $50 Notes payable Total CL Long-term bonds Total liabilities Preferred stock $170 40% 50 $4.40 Common stock Retained earnings Total common equity Total liabs. & equity $1.00 $27.00 2014 $ 4,760 3,560 170 480 S 550 $ 100 S 450 $ 180 $ 270 8 $ 262 $48 $214 40% 50 $5.24 $0.96 $40.00 F $ $ 2014 2015 $ 60 50 40 380 500 820 1,000 $ 1,300 $ 1,550 1,700 2,000 $ 3,000 $ 3,550 S 190 $ 200 280 300 130 280 $ 600 S 780 1,000 1,200 $ 1,600 $ 1,980 100 100 500 500 800 970 $ 1,300 $ 1,470 $ 3,000 $ 3,550 $

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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