Question: Comparative financial statement data for Bridgeport Corp. and Sarasota Corp., two competitors, appear below. All balance sheet data are as of December 31, 2022. Bridgeport

Comparative financial statement data for Bridgeport Corp. and Sarasota Corp., two competitors, appear below. All balance sheet data are as of December 31, 2022.

Bridgeport Corp. Sarasota Corp.
2022 2022

Net sales

$2,340,000 $806,000

Cost of goods sold

1,527,500 442,000

Operating expenses

367,900 127,400

Interest expense

11,700 4,800

Income tax expense

110,500 46,800

Current assets

431,000 197,100

Plant assets (net)

690,000 175,900

Current liabilities

86,200 43,800

Long-term liabilities

138,000 45,720

Net cash common by operating activities

179,400 46,800

Capital expenditures

117,000 26,000

Dividends paid on common stock

46,800 19,500

Weighted-average common shares outstanding

80,000 50,000

a) Compute the net income and earnings per share for each company for 2022. (Round Earnings per share to 2 decimal places, e.g. $2.78.)

Net Income Earnings per share

Bridgeport Corp.

$enter a dollar amount for net income for Bridgeport Corp. $enter a dollar amount for earnings per share for Bridgeport Corp. rounded to 2 decimal places

Sarasota Corp.

$enter a dollar amount for net income for Sarasota Corp.

$enter a dollar amount for earnings per share for Sarasota Corp. rounded to 2 decimal places

(b) Compute working capital and the current ratio for each company for 2022. (Round current ratio to 1 decimal place, e.g. 0.7 : 1.)

Working Capital Current Ratio

Bridgeport Corp.

$enter a dollar amount for working capital for Bridgeport Corp. enter the current ratio for Bridgeport Corp. rounded to 1 decimal place :1

Sarasota Corp.

$enter a dollar amount for working capital for Sarasota Corp. enter the current ratio for Sarasota Corp. rounded to 1 decimal place :1

(c) Compute the debt to assets ratio and the free cash flow for each company for 2022. (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 Assets Free Cash Flow

Bridgeport Corp.

enter the debt to assets ratio for Bridgeport Corp. in percentages rounded to 1 decimal place % $enter a dollar amount for free cash flow for Bridgeport Corp.

Sarasota Corp.

enter the debt to assets ratio Sarasota Corp. in percentages rounded to 1 decimal place % $enter a dollar amount for free cash flow for Sarasota Corp.

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