Brigman Inc. has the following financial statement information for 2012 and 2011:
Required: Compute the following ratios for the year ending December 31, 2012: (round to two decimal places)
Definitions:
Long-Run Equilibrium
A state in which supply and demand are balanced, and all firms in the industry are earning normal profits in the long term.
Short-Run Equilibria
A market condition where supply and demand are balanced, but only temporarily as external factors can soon alter this balance.
Demand Increases
A situation where the quantity of a good or service that consumers are willing and able to purchase at a given price rises.
Competitive Market
A market structure characterized by a large number of buyers and sellers, where no single entity has the power to significantly influence market prices.
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