Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Compare Income Statements and Balance Sheets of Competitors a. Following are selected income statement data for two communications companies, Comcast and Verizon, for the year

Compare Income Statements and Balance Sheets of Competitors a. Following are selected income statement data for two communications companies, Comcast and Verizon, for the year ended December 31, 2018. Express each income statement amount as a percentage of sales. Note: Round percentage to one decimal point (for example, round 18.566% to 18.6%).

Income Statement ($ millions) Comcast Verizon
Sales $96,397 $133,480
Operating costs 75,498 108,585
Operating profit 20,899 24,895
Nonoperating expenses 7,290 6,364
Net income $13,609 $18,531

b. Following are selected balance sheet data for two communications companies, Comcast and Verizon, for the year ended December 31, 2018. Express each balance sheet amount as a percentage of total assets. Note: Round percentage to one decimal point (for example, round 18.566% to 18.6%).

Balance Sheet ($ millions) Comcast Verizon
Current assets $22,285 $35,329
Long-term assets 229,836 230,193
Total assets $252,121 $265,522
Current liabilities $28,155 $38,689
Long-term liabilities 154,611 175,633
Total liabilities $182,766 $214,322
Stockholders equity* 69,355 51,200
Total liabilities and equity $252,121 $265,522

*Includes noncontrolling interest

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

IT Audit Control And Security

Authors: Robert R. Moeller

1st Edition

0471406767, 9780471406761

More Books

Students also viewed these Accounting questions

Question

* What is the importance of soil testing in civil engineering?

Answered: 1 week ago

Question

Explain the concept of shear force and bending moment in beams.

Answered: 1 week ago