Comparative financial statement data for Sarasota Corp. and Bridgeport

Comparative financial statement data for Sarasota Corp. and Bridgeport Corp., two competitors, appear below. All balance sheet data are as of December 31, 2017.Sarasota Corp.Bridgeport Corp.20172017Net sales$1,836,000$632,400Cost of goods sold1,198,500346,800Operating expenses288,66099,960Interest expense9,1803,876Income tax expense86,70036,720Current assets407,200190,336Plant assets (net)542,640142,523Current liabilities67,65234,390Long-term liabilities110,67041,498Net cash provided by operating activities140,76036,720Capital expenditures91,80020,400Dividends paid on common stock36,72015,300Weighted-average number of shares outstanding80,00050,000(a)Compute the net income and earnings per share for each company for 2017.(Round Earnings per share to 2 decimal places, e.g. $2.78.)Net IncomeEarnings per shareSarasota Corp.$$Bridgeport Corp.$$(b)Compute working capital and the current ratios for each company for 2017.(Round current ratio to 1 decimal place, e.g. 0.7 : 1.)Working CapitalCurrent RatiosSarasota Corp.$:1Bridgeport Corp.$:1(c)Compute the debt to assets ratio and the free cash flow for each company for 2017.(Round debt to assets to 1 decimal place, e.g. 78.9%. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)Debt to AssetsFree Cash FlowSarasota Corp.%$Bridgeport Corp.%$

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Comparative financial statement data for Sarasota Corp. and Bridgeport

Comparative financial statement data for Sarasota Corp. and Bridgeport Corp., two competitors, appear below. All balance sheet data are as of December 31, 2017.Sarasota Corp.Bridgeport Corp.20172017Net sales$1,836,000$632,400Cost of goods sold1,198,500346,800Operating expenses288,66099,960Interest expense9,1803,876Income tax expense86,70036,720Current assets407,200190,336Plant assets (net)542,640142,523Current liabilities67,65234,390Long-term liabilities110,67041,498Net cash provided by operating activities140,76036,720Capital expenditures91,80020,400Dividends paid on common stock36,72015,300Weighted-average number of shares outstanding80,00050,000(a)Compute the net income and earnings per share for each company for 2017.(Round Earnings per share to 2 decimal places, e.g. $2.78.)Net IncomeEarnings per shareSarasota Corp.$$Bridgeport Corp.$$(b)Compute working capital and the current ratios for each company for 2017.(Round current ratio to 1 decimal place, e.g. 0.7 : 1.)Working CapitalCurrent RatiosSarasota Corp.$:1Bridgeport Corp.$:1(c)Compute the debt to assets ratio and the free cash flow for each company for 2017.(Round debt to assets to 1 decimal place, e.g. 78.9%. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)Debt to AssetsFree Cash FlowSarasota Corp.%$Bridgeport Corp.%$

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