Here are comparative financial statement data for Bramble Company and Debra Company, two competitors. All data

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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Here are comparative financial statement data for Bramble Company and Debra Company, two competitors. All data are as of December 31, 2022, and December 31, 2021.

   
Bramble Company
 
Debra company
   
2022
 
2021
 
2022
 
2021
Net sales
  $1,896,000       $561,000    
Cost of goods sold
  1,020,048       297,330    
Operating expenses
  257,856       79,662    
Interest expense
  7,584       3,927    
Income tax expense
  54,984       6,171    
Current assets
  322,500   $310,000   83,500   $78,000
Plant assets (net)
  520,800   500,300   139,800   123,000
Current liabilities
  64,200   75,600   34,400   29,600
Long-term liabilities
  108,400   90,400   28,400   26,000
Common stock, $10 par
  498,000   498,000   122,500   122,500
Retained earnings
  172,700   146,300   38,000   22,900

(a)

 
 
Prepare a vertical analysis of the 2022 income statement data for Bramble Company and Debra Company. (Round percentages to 1 decimal place, e.g. 12.1%.)
Condensed Income Statement
choose the accounting period                                                                       
 
Bramble Company
 
  Debra Company
 
Dollars
 
Percent
 
Dollars
 
Percent
select an income statement item                                                                       
$enter a dollar amount 
 
enter percentages rounded to 1 decimal place %
 
$enter a dollar amount 
 
enter percentages rounded to 1 decimal place %
select an income statement item                                                                       
enter a dollar amount
 
enter percentages rounded to 1 decimal place %
 
enter a dollar amount
 
enter percentages rounded to 1 decimal place %
select a summarizing line for the first part                                                                       
enter a total amount for the first part
 
enter percentages rounded to 1 decimal place %
 
enter a total amount for the first part
 
enter percentages rounded to 1 decimal place %
select an income statement item                                                                       
enter a dollar amount
 
enter percentages rounded to 1 decimal place %
 
enter a dollar amount
 
enter percentages rounded to 1 decimal place %
select a summarizing line for the second part                                                                       
enter a total amount for the second part
 
enter percentages rounded to 1 decimal place %
 
enter a total amount for the second part
 
enter percentages rounded to 1 decimal place %
select an opening section name                                                                       
             
select an income statement item                                                                       
enter a dollar amount
 
enter percentages rounded to 1 decimal place %
 
enter a dollar amount
 
enter percentages rounded to 1 decimal place %
select a summarizing line for the third part                                                                       
enter a total amount for all three parts
 
enter percentages rounded to 1 decimal place %
 
enter a total amount for all three parts
 
enter percentages rounded to 1 decimal place %
select an income statement item                                                                       
enter a dollar amount
 
enter percentages rounded to 1 decimal place %
 
enter a dollar amount
 
enter percentages rounded to 1 decimal place %
select a closing name for this statement                                                                       
$enter a total net income or loss amount 
 
enter percentages rounded to 1 decimal place %
 
$enter a total net income or loss amount 
 
enter percentages rounded to 1 decimal place %
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