Comparative financial statement data for Sheridan Corporation and Sunland Corporation, two competitors, appear below. All balance sheet data are as of December 31, 2022. Sheridan Corporation Sunland Corporation 2022 2022 Net sales $1,845,000 $630,000 Cost of goods sold 1,217,000 368,000 Operating expenses 309,000 100,000 Interest expense 10,000 3,800 Income tax expense 84,000 36,700 Current assets 427,500 130,700 Plant assets (net) 537,700 140,800 Current liabilities 68,670 35,460 Long-term liabilities 148,500 29,700 Additional Information: Cash from operating activities $154,100 $43,800 Capital expenditures $83,600 $20,900 Dividends paid $34,900 $14,600 Average number of shares outstanding 100,000 50,000
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Comparative financial statement data for Sheridan Corporation and Sunland Corporation, two competito...
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