Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Current Attempt in Progress Here are comparative statement data for Pharoah Company and Cullumber Company, two competitors. All balance sheet data are as of December

image text in transcribed
image text in transcribed
image text in transcribed
Current Attempt in Progress Here are comparative statement data for Pharoah Company and Cullumber Company, two competitors. All balance sheet data are as of December 31. 2022, and December 31, 2021 Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Pharoah Company Cullumber Company 2022 2021 2022 2021 $1.924,000 $563,000 1,067,000 281,000 254.000 91,000 8,000 3.000 71,700 35.000 622,612 $596,703 159.172 $ 151782 1,006,188 955.000 266,880 240.301 126,681 144 80767 515 57.837 217.721 171.90056,574 47.750 955.000955,000 229 200 229 200 329.399279.996 72.763 57.296 Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock $10 par Retained earnings Prepare a vertical analysis of the 2022 income statement data for Pharoah Company and Cullumber Company. (Round all ratiosto 1 decimal plock.es 25%) Condensed Income Statement For the Year Ended December 31, 2022 Pharoah Company Cullumber Company Dollars Percent Dollars Percent $1.924,000 % $563,000 1,067,000 281,000 857,000 282,000 254,000 91.000 603.000 191000 8.000 595.000 188.000 71.700 35.000 $523.300 $153.000 161 8,000 % 3,000 595,000 % 188,000 71,700 35,000 $523,300 % $153,000 (61) Compute the 2022 return on assets and the return on common stockholders' equity for both companies. Round all ratiesto 1 decimal plane Pharoah Company Cullumber Company Return on assets Return on common stockholders' equity

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

CIA Part 3 Business Knowledge For Internal Auditing 2021

Authors: MUHAMMAD ZAIN

1st Edition

B09B23JKZ8, 979-8739475527

More Books

Students also viewed these Accounting questions

Question

Compare and contrast various care delivery models. AppendixLO1

Answered: 1 week ago