accounting principles 13

CHAPTER 18 PROBLEMS: SETB c 31201 25 97512.410 3,33679,46 stock. 510 par s00,000 500.000 72.40 14659 d earnings 38,096 29,998 (a) Prepare a vertical analysis of the 2017 income statement data for Laker Company and the return on assets and the rethars on commom Comment on the relative proditability of the companies by computing ratios for both P18-20 The comparative statements of Docker Tool Company are presented below Comgrule rasios from balece DOCKER TOOL COMPANY Statement For the Year Ended December 31 Net sales Cost of goods sold Gross protit Selling and adeministrative espense 1,828,500 $1,750,500 1,010, 500 818,000 516,000 302,000 Income from operations Other expenses and losses 275,300 Interest expense Income before income taxes Income tax expense Net income 14,000 261,500 77,000 s 210,000 184,500 17,000 285,000 75,000 DOCKER TOOL COMPANY Balance Sheets December 31 Assets 2017 2016 Current assets 60,100 $64,200 50,000 Cash Short-term investments Accounts receivable (net) Inventory 64,000 122,800 102,800 118,000 115.500 364,900 332,500 605.300 520.300 970,200 $852,800 Total current assets Plant assets (net) Total assets