Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Edited Clear image Please help! Here are comparative statement data for Duke Company and Lord Company. two competitors. All balance sheet data are as of
Edited Clear image Please help!
Here are comparative statement data for Duke Company and Lord Company. two competitors. All balance sheet data are as of December 31, 2020, and December 31, 2019. Duke Company Lord Company 2020 2019 2020 2019 Net sales $1866,000 5559.000 Cost of goods sold 1.059888 297,388 Operating expenses 264.972 78,819 Interest expense 7,464 4,472 Income tax pense 54.114 6149 Current assets 323,000 $211.200 82.000 $78,300 Plant assets net 521,400 501200 138,300 125.100 Currentlabilities 66,000 75.000 36,200 31.000 Long-term liabilities 108.200 90.200 29,000 24.600 Common stock $10 496.000 496.000 122.000 122.000 Retained earnings 174.200 150.600 33.100 25.800 Condensed Income Statement December 31 20 Duke Company Percent Dollars Dollars Netoks 1.000 1005 Cast of Good Sold 11.05.2011 Gross Pratt 106112 Operating perem 264972 14 Income From Opera 541140 23 Other perces and losses Interest Expense TA Income before com 53076 2016 Income Tax Experie 54114 21 Net Income 2529 December 31, 2000 Duke Company Lord Company llars Percent Dollars Percent 1966.000 100 552000 100% 11.09. 561 201i 532 106112 4396 265612 142 1 162793 141 341140 112793 4472 OB 583676 28.6% 178321 SL 54114 20 146 6149 1 11 479562 25.7% 172172 (61) Compute the 2020 retum on assets and the return on common stockholders equity ratios for both companies. Round answers to 1 decimales 12.1%) Duke Company Lord Company Return on assets Return on common stockholders evity eTextbook and MediaStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started