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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 2020 2019 Lord Company 2020 2019 Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $10 par Retained earnings $1,884,000 1,070,112 261,876 7,536 52,752 320,500 519,000 65,000 108,800 $561,000 297,330 79,662 3,927 6,171 83,200 139,800 34,200 29,000 $311,800 497,300 75,000 90,200 $78,300 124,500 30,000 25,600 501,500 501,500 120,000 120,000 164,200 142,400 39,800 27,200 (a) Your answer is partially correct. Prepare a vertical analysis of the 2020 income statement data for Duke Company and Lord Company
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