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Question 3 Here are comparative statement data for Duke Company and Lord Company, two competitors. All balance sheet data are as of December 31, 2020,
Question 3 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 $1,836,000 $561,000 Cost of goods sold 1,050,192 296,208 Operating expenses 268,056 79,101 Interest expense 9,180 3,927 Income tax expense 53,244 6,732 Current assets 329,500 $311,800 82,600 $78,600 Plant assets (net) 522,000 497,000 138,600 124,800 Current liabilities 64,000 74,400 35,800 29,200 Long-term liabilities 109,000 90,000 28,600 25,200 Common stock, $10 496,000 496,000 120,000 120,000 par Retained earnings 182,500 148,400 36,800 29,000 (61) Compute the 2020 return on assets and the return on common stockholders' equity ratios for both companies. (Round answers to 1 decimal place, e.g. 12.1%.) Duke Company Lord Company Return on assets Return on common stockholders' equity By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. Attempts: 0 of 3 used
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