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Comparative financial statement data for Duran Corporation and Kiepert Corporation, two competitors, appear below. All balance sheet data are as of December 31, 2012.
Duran Corporation
Kiepert Corporation
2012
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
Cash from operating activities
138,000
Capital expenditures
$90,000
20,000
Dividends paid on common stock
15,000
Average number of shares outstanding
80,000
50,000
Instructions
(a) Comment on the relative profitability of the companies by computing the net income and earnings per share for each company for 2012.
(b) Comment on the relative liquidity of the companies by computing working capital and the current ratios for each company for 2012.
(c) Comment on the relative solvency of the companies by computing the debt to total assets ratio and the free cash flow for each company for 2012.
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