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Question 2 Here are comparative statement data for Duke Company and Lord Company, two competitors. - 2019. Net sales Cost of goods sold Operating expenses

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Question 2 Here are comparative statement data for Duke Company and Lord Company, two competitors. - 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 Duke Company 2020 2019 $1,896,000 1,020,048 257,856 7,584 54,984 322,500 $310,000 520,800 500,300 64,200 75,600 108,400 90,400 Lord Company 2020 2019 $561,000 297,330 79,662 3,927 6,171 83,500 $78,000 139,800 123,000 34,400 29,600 28,400 26,000 498,000 498,000 122,500 122,500 172,700 146,300 38,000 22,900 (a) Prepare a vertical analysis of the 2020 income statement data for Duke Company and Lord Company Condensed Income Statement Prepare d verucal dilaySIS UI LE ZUZU Income Statement Udla Tor Duke comparty anu Lor company. (Rounu Condensed Income Statement Duke Company Dollars Percent Lord Company Dollars Percent % $ % % % % % Cost of Goods Sold Dividends Expenses Gross Profit Income Before Income Taxes Income From Operations Income Tax Expense Interest Expense Net Income /(Loss) Net Sales Operating Expenses Other Expenses and Losses Revenues Total Expenses Total Revenues % % % % % % % % % % % %

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