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Here are comparative statement data for Blossom Company and Sunland Company, two competitors. All balance she data are as of December 31, 2022, and December
Here are comparative statement data for Blossom Company and Sunland Company, two competitors. All balance she data are as of December 31, 2022, and December 31, 2021. Blossom Company Sunland Company 2022 2021 2022 2021 Net sales $1,850,000 $537,000 Cost of goods sold 1,061,000 279,000 251,000 83,000 Operating expenses Interest expense 6,800 1,600 Income tax expense 65,100 29,000 Current assets 329,235 $315,534 84,169 $ 80,262 Plant assets (net) 532,068 505,000 141,125 127,070 Current liabilities 66,988 76,573 35,701 30,584 Long-term liabilities 115,130 90,900 29,916 25,250 Common stock, $10 par 505,000 505,000 121,200 121,200 Retained earnings 174,185 148,061 38,477 30,298 (a) Prepare a vertical analysis of the 2022 income statement data for Blossom Company and Sunland Company. (Round all ratios to 1 decimal place, e.g. 2.5%.) Condensed Income Statement For the Year Ended December 31, 2022 Blossom Company Sunla Dollars Percent Dollars $1,850,000 % $537,000 1,061,000 % 279,000 789,000 % 258,000 251,000 % 83,000 538,000 % 175,000 6,800 % 1,600 531,200 % 173,400 65,100 % 29,000 $466,100 % $144,400 (61) Compute the 2022 return on assets and the return on common stockholders' equity for both companies. (Round all ratios to 1 decimal place, e.g. 2.5%.) Blossom Company Sunland Company Return on assets % % Return on common stockholders' equity % %
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