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, 2021. Lily Company 2022 2021 Maria Company 2022 2021
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, 2021. Lily Company 2022 2021 Maria Company 2022 2021
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 74E
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![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, 2021.
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
Lily Company
2022
$1,836,000
1,050,192
268,056
9,180
53,244
329,500
522,000
64,000
109,000
496,000
182,500
2021
$311.800
497,000
74,400
90,000
496,000
148,400
Maria Company
2022
$561,000
296,208
79,101
3,927
6,732
82,600
138.600
35,800
28,600
120,000
36,800
2021
$78,600
124,800
29.200
25,200
120,000
29,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe2d8bd87-a7b3-4179-b62c-44ece0415739%2F4409a238-65b8-464d-b07e-e9c41249bbe5%2Ftogftk_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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, 2021.
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
Lily Company
2022
$1,836,000
1,050,192
268,056
9,180
53,244
329,500
522,000
64,000
109,000
496,000
182,500
2021
$311.800
497,000
74,400
90,000
496,000
148,400
Maria Company
2022
$561,000
296,208
79,101
3,927
6,732
82,600
138.600
35,800
28,600
120,000
36,800
2021
$78,600
124,800
29.200
25,200
120,000
29,000
![Prepare a vertical analysis of the 2022 income statement data for Lily Company and Maria Company. (Round percentages to 1 decimal place, e.g. 12.1%)
Dollars
Condensed Income Statement
Lily Company
Percent
%
%
%
%
%
%
%
%
%
$
$
Dollars
Maria Company
Percent
+
#
%
%
%
%
%
%
%
%
%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe2d8bd87-a7b3-4179-b62c-44ece0415739%2F4409a238-65b8-464d-b07e-e9c41249bbe5%2Fnwo94r_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Prepare a vertical analysis of the 2022 income statement data for Lily Company and Maria Company. (Round percentages to 1 decimal place, e.g. 12.1%)
Dollars
Condensed Income Statement
Lily Company
Percent
%
%
%
%
%
%
%
%
%
$
$
Dollars
Maria Company
Percent
+
#
%
%
%
%
%
%
%
%
%
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