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Problem 14-1A a, b1 (Part Level Submission) Here are comparative statement data for Duke Company and Lord Company, two competitors. All balance sheet data are
Problem 14-1A a, b1 (Part Level Submission) 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 $1,824,000 $559,000 Cost of goods sold 1,030,560 296,829 Operating expenses 268,128 79,937 Interest expense 7.296 3,913 Income tax expense 52,896 7,267 Current assets 322,000 $310,600 82.600 $79,200 Plant assets (net) 519,900 498,200 140,100 124,500 Current liabilities 65,000 75,000 35,800 31,400 Long-term liabilities 108,000 90,206 28.600 25,200 Common stock, 510 497,000 497,000 117.000 117,000 171.900 146,600 41,300 30,100 par Retained earnings (a) Prepare a vertical analysis of the 2020 income statement data for Duke Company and Lord Company. (Round percentages to 1 decimal place, e.g. 12.19.) Condensed Income Statement For the Year Ended December 31, 2020 Duke Company Lord Company actice Assignment Gradebook ORION nment Condensed Income Statement For the Year Ended December 31, 2020 Duke Company Dollars Percent Lord Company Dollars Percent Net Sales $ 16 Cost of Goods Sold % Gross Profit 9 Operating Expenses % 9 Income From Operations > 00 Other Expenses and losses Interest Expense % Income Before Income Taxes Income Tax Expense 96 Net Income /(Loss) Wanthi Ounchen Acc will learn what Amnis hacen the Print Potential Policy sathur instructor cy Policy | 2000-2021.John Wiley Sons, Inc. All Rights Reserved. A Division of an We Son los Gross Profit 96 % Operating Expenses % % Income From Operations 96 96 Other Expenses and Losses V Interest Expense 96 96 Income Before Income Taxes % % Income Tax Expense % % Net Income /(LOS) % By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor (61) The parts of this question must be completed in order. This part will be available when you complete the part above
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