Question
Here are comparative financial statement data for Coronado Company and Donna Company, two competitors. All data are as of December 31, 2022, and December 31,
Here are comparative financial statement data for Coronado Company and Donna Company, two competitors. All data are as of December 31, 2022, and December 31, 2021. Coronado Company Donna Company 2022 2021 2022 2021 Net sales $ 1,884,000 $ 561,000 Cost of goods sold 1,070,112 297,330 Operating expenses 261,876 79,662 Interest expense 7,536 3,927 Income tax expense 52,752 6,171 Current assets 320,500 $ 311,800 83,200 $ 78,300 Plant assets (net) 519,000 497,300 139,800 124,500 Current liabilities 65,000 75,000 34,200 30,000 Long-term liabilities 108,800 90,200 29,000 25,600 Common stock, $10 par 501,500 501,500 120,000 120,000 Retained earnings 164,200 142,400 39,800 27,200
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