Question
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
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