Reference no: EM132940737
AN Comparative financial statement data for Loeb Corporation and Bowsh Corporation, two competitors, appear below. All balance sheet data are as of December 31, 2022.
Loeb Corporation Bowsh Corporation
2022 2022
Net sales $1,800,000 $620,000
Cost of goods sold 1,175,000 340,000
Operating expenses 283,000 98,000
Interest expense 9,000 3,800
Income tax expense 85,000 36,000
Current assets 407,200 190,336
Plant assets (net) 532,000 139,728
Current liabilities 66,325 33,716
Long-term liabilities 108,500 40,684
Instructions
Problem a. Comment on the relative liquidity of the companies by computing working capital and the current ratio for each company for 2022.
Problem b. Comment on the relative solvency of the companies by computing the debt to assets ratio for each company for 2022.
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