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Here are comparative statement data for Blossom Company and Sunland Company, two competitors. All balance sheet data are as of December 31, 2017, and December
Here are comparative statement data for Blossom Company and Sunland Company, two competitors. All balance sheet data are as of December 31, 2017, and December 31, 2016 Blossom Company Sunland Company 2016 2016 2017 $587,000 297,000 88,000 2017 Net sales Cost of goods sold Operating expenses Interest expense Income tax expense $1,949,000 1,077,000 261,000 8,000 74,300 2,600 33,000 Current assets Plant assets (net) Current liabilities Long-term liabilities 805,158 $771,653 205,840 196,283 1,301,196 1,235,000 345,128310,7516 74,794 61,750 163,823 281,555 187,263 222,300 87,310 73,161 Common stock, $10 par 1,235,000 1,235,000296,400 296,400 Retained earning:s 425,976 362,090 94,097 74,095 Prepare a vertical analysis of the 2017 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, 2017 Blossom Company Sunland Company Dollars Percent Dollars Percent 4$1,949,000 % $587,000
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