Here are comparative statement data for Crane Company and Sheridan Company, two competitors. All balance sheet data are as of December 31, 2017, and December 31, 2016.     Crane Company   Sheridan Company     2017   2016   2017   2016 Net sales   $1,877,000       $587,000     Cost of goods sold   1,076,000       298,000     Operating expenses   261,000       83,000     Interest expense   8,000       2,600     Income tax expense   70,100       30,000                       Current assets   795,379   $762,280   203,340   $ 193,899 Plant assets (net)   1,285,392   1,220,000   340,936   306,981 Current liabilities   161,833   184,989   86,249   73,886 Long-term liabilities   278,136   219,600   72,273   61,000                   Common stock, $10 par   1,220,000   1,220,000   292,800   292,800 Retained earnings   420,802   357,692   92,954   73,195           Prepare a vertical analysis of the 2017 income statement data for Crane Company and Sheridan Company. (Round all ratios to 1 decimal place, e.g. 2.5%.)

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Here are comparative statement data for Crane Company and Sheridan Company, two competitors. All balance sheet data are as of December 31, 2017, and December 31, 2016.

   
Crane Company
 
Sheridan Company
   
2017
 
2016
 
2017
 
2016
Net sales   $1,877,000       $587,000    
Cost of goods sold   1,076,000       298,000    
Operating expenses   261,000       83,000    
Interest expense   8,000       2,600    
Income tax expense   70,100       30,000    
                 
Current assets   795,379   $762,280   203,340   $ 193,899
Plant assets (net)   1,285,392   1,220,000   340,936   306,981
Current liabilities   161,833   184,989   86,249   73,886
Long-term liabilities   278,136   219,600   72,273   61,000
                 
Common stock, $10 par   1,220,000   1,220,000   292,800   292,800
Retained earnings   420,802   357,692   92,954   73,195
 
 
 
 
 
Prepare a vertical analysis of the 2017 income statement data for Crane Company and Sheridan Company. (Round all ratios to 1 decimal place, e.g. 2.5%.)
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