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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
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 | $1,866,000 | $561,000 | ||||||
Cost of goods sold | 1,000,176 | 297,330 | ||||||
Operating expenses | 264,972 | 79,101 | ||||||
Interest expense | 9,330 | 3,927 | ||||||
Income tax expense | 54,114 | 6,732 | ||||||
Current assets | 325,000 | $314,200 | 82,600 | $79,200 | ||||
Plant assets (net) | 520,200 | 501,800 | 140,400 | 124,200 | ||||
Current liabilities | 64,800 | 74,400 | 37,000 | 30,200 | ||||
Long-term liabilities | 107,000 | 90,400 | 28,000 | 25,400 | ||||
Common stock, $10 par | 503,000 | 503,000 | 116,000 | 116,000 | ||||
Retained earnings | 170,400 | 148,200 | 42,000 | 31,800 |
Prepare a vertical analysis of the 2020 income statement data for Duke Company and Lord Company. (Round percentages to 1 decimal place, e.g. 12.1%.) Condensed Income Statement Duke Company Lord Company Dollars Percent Dollars Percent $ % $ % % % % % % % % % % % % % % % % $ %
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