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I only need the answer for part B. Thank you in advance. Question 1 of 5 0.5 / 1 Here are comparative statement data for
I only need the answer for part B. Thank you in advance.
Question 1 of 5 0.5 / 1 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 $1,872,000 $561,000 Cost of goods sold 1,070,784 297,330 Operating expenses 265,824 78,540 Interest expense 9,360 3.927 Income tax expense 54,288 6,732 Current assets 323,500 $310,300 82,300 $79,200 Plant assets (net) 522,000 497,600 138,900 125,400 Current liabilities 64,800 74,400 36,600 29,400 Long-term liabilities 108,200 89,600 29,000 25,200 Common stock, $10 par 497,500 497,500 120,000 120,000 Retained earnings 175,000 146,400 35,600 30,000 Question 1 of 5 0.5 / 1 III Duke Company Dollars Percent Dollar Net Sales $ 1872000 100 % $ Cost of Goods Sold (1070784) i (57.2) i % Gross Profit 801216 42.8 % Operating Expenses (265824) (14.2) i % Income From Operations 535392 28.6 % Other Expenses and Losses Interest Expense (9360) i (0.5) i % Income Before Income Taxes 526032 28.1 % Income Tax Expense (54288) (2.9) i % Net Income /(Loss) $ 471744 25.2 % $ Question 1 of 5Step by Step Solution
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