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Prepare a vertical analysis of the 2022 income statement data for Cullumber Company and Ivanhoe Company. (Round percentages to 1 decimal place, eg. 12.1%)

Prepare a vertical analysis of the 2022 income statement data for Cullumber Company and Ivanhoe Company. (Round percentages to 1 decimal place, eg. 12.1%)

FINANCIAL ACCOUNTING
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 Cullumber Company and Ivanhoe 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 Cullumber Company 2022 $1,896,000 1,099,680 259,752 9,480 53,088 326,500 521.100 64,800 107,600 496,500 178,700 2021 $314,200 498,500 75,800 89,600 496,500 150,800 Ivanhoe Company 2022 $561,000 297,330 80,223 4,488 6,732 82,000 138,000 36,600 30,800 117,000 35,600 2021 $78,000 123,900 28,800 25,800 117,000 30,300
Transcribed Image Text:Here are comparative financial statement data for Cullumber Company and Ivanhoe 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 Cullumber Company 2022 $1,896,000 1,099,680 259,752 9,480 53,088 326,500 521.100 64,800 107,600 496,500 178,700 2021 $314,200 498,500 75,800 89,600 496,500 150,800 Ivanhoe Company 2022 $561,000 297,330 80,223 4,488 6,732 82,000 138,000 36,600 30,800 117,000 35,600 2021 $78,000 123,900 28,800 25,800 117,000 30,300
Prepare a vertical analysis of the 2022 income statement data for Cullumber Company and Ivanhoe Company. (Round percentages to 1 decimal place, e.g. 12.1%) Net Sales Cost of Goods Sold Net Income/(Loss) Operating Expenses Income From Operations V Return on assets $ Dollars Return on common stockholders' equity Condensed Income Statement For the Year Ended December 31, 2022 Cullumber Company Percent Cullumber Company % % 0% % 96 % % % % % $ Compute the 2022 return on assets and the return on common stockholders' equity for both companies. (Round answers to 1 decimal place, e.g. 12.1%) $ Dollars Ivanhoe Company Ivan %
Transcribed Image Text:Prepare a vertical analysis of the 2022 income statement data for Cullumber Company and Ivanhoe Company. (Round percentages to 1 decimal place, e.g. 12.1%) Net Sales Cost of Goods Sold Net Income/(Loss) Operating Expenses Income From Operations V Return on assets $ Dollars Return on common stockholders' equity Condensed Income Statement For the Year Ended December 31, 2022 Cullumber Company Percent Cullumber Company % % 0% % 96 % % % % % $ Compute the 2022 return on assets and the return on common stockholders' equity for both companies. (Round answers to 1 decimal place, e.g. 12.1%) $ Dollars Ivanhoe Company Ivan %
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