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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 $561,000 297,330 Cost of goods sold 1,000,176 Operating expenses 264,972 79,101 Interest expense 3,927 Income tax expense 6,732 Current assets Plant assets (net) 9,330 54,114 325,000 $314,200 520,200 501,800 64,800 74,400 107,000 90,400 503,000 503,000 170,400 148,200 Current liabilities 82,600 $79,200 140,400 124,200 37,000 30,200 28,000 25,400 116,000 116,000 42,000 31,800 Long-term liabilities Common stock, $10 par Retained earnings 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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