s Cost of Goods SoldGross Prof(61)Operating ExpenseseTextbook and MediaeTextbook 1Textbook 2VVSave for Later Last saved 19 seconds agoReturn on assetsvReturn on common stockholders' equityLily Company%%%Compute the 2022 return on assets and the return on common stockholders' equity ratios for both companies (Round answers to 1 decimal plice, eg 12.1%)2"1% SMaria Company%N16%96 Here are comparative financial statement data for Lily Company and Maria Company, two competitors. All data are as of December 31, 2022, and December 31, 2021Maria Company2022Net salesCost of goods soldOperating expensesInterest expenseIncome tax expenseCurrent assetsPlant assets (net)Current liabilitiesLong-term liabilitiesCommon stock, 510 parRetained earnings(a)Cost of Goods SoldGross ProOperating ExpenserLily Company2022$1,836,0001,050 192268.0569:18053.244329.500 $311,800522.00064.000109.000496,000162.500 148,400V>2021>♥74,40090,000$561,000296,208Dollars79,1013.9276,73282.600497.000 138,60035.80028,600496,000 120,000 120,00036,8002021Prepare avertical analysis of the 2022 income statement data for Lily Company and Maria Company. (Round percentages to 1 decimal place, eg 12.1%)Condensed Income StatementFor the Year Ended December 31, 2022$78,600124,80029.20025,20029,000Lily CompanyPercent56S%%DollarsMaria CompanyPercentR%

Return on asset is a ratio that compares the net income to the average total assets. It indicates…

Cost of Goods Sold Gross Prof (61) Operating Expenses Textbook and Media eTextbook 1 *Textbook 2 V V V Sve for Laser Last saved 19 seconds ago % % Compute the 2022 return on assets and the return on common stockholders' equity ratios for both companies (Round answers to 1 decimal plice, es 12.1%) 1 % %6 26

Cost of Goods Sold Gross Prof (61) Operating Expenses Textbook and Media eTextbook 1 *Textbook 2 V V V Sve for Laser Last saved 19 seconds ago % % Compute the 2022 return on assets and the return on common stockholders' equity ratios for both companies (Round answers to 1 decimal plice, es 12.1%) 1 % %6 26

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Use the following accounts; Cash Foreign exchange gain Foreign exchange loss Capital Bank Short-term investments Loss on sale of short-term investment Gain on sale of short-term investment RA established his own company, r@ktas Co. The following transactions are the events that occurred during December 2018, the company's first month: Date 12/1 The owner invested $ 200,000 cash for capital. 12/5 r@ktas Co., opened deposit account on Don't Trust Bank and put 2.000 Euro (Exchange rate was 1 Euro= 1,5 Dollar) 12/10 The Company purchased short-term investment with cash for $2,500. 12/18 The Company sold short-term investment with cash for $2.000 Note: • Exchange rate was 1 Euro= 1,4 Dollar at the end of the period. Requirements: 1- Give the journal entry for each transaction. 2- Post each transaction to Taccounts.
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