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Question - 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 2022
Bowsh Corporation 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
Required -
a. Comment on the relative liquidity of the companies by computing working capital and the current ratio for each company for 2022.
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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