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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, e.g. 12.1%.) $ Dollars Condensed Income Statement Cullumber Company Percent % % % % % % % $ Dollars Ivanh

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%.) $ Dollars Condensed Income Statement Cullumber Company Percent % % % % % % % $ Dollars Ivanh

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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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%.) < > > < Dollars Condensed Income Statement Cullumber Company Percent % % % % % % % LA Dollars Ivanh
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%.) < > > < Dollars Condensed Income Statement Cullumber Company Percent % % % % % % % LA Dollars Ivanh
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 $1,836,000 1,050,192 268,056 9,180 53,244 329,500 $311,800 522,000 64,000 109,000 496,000 2021 182,500 497,000 74,400 90,000 496,000 148,400 Ivanhoe Company 2022 $561,000 296,208 79,101 3,927 6,732 82,600 $78,600 138,600 124,800 35,800 28,600 120,000 2021 36,800 29,200 25,200 120,000 29,000
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 $1,836,000 1,050,192 268,056 9,180 53,244 329,500 $311,800 522,000 64,000 109,000 496,000 2021 182,500 497,000 74,400 90,000 496,000 148,400 Ivanhoe Company 2022 $561,000 296,208 79,101 3,927 6,732 82,600 $78,600 138,600 124,800 35,800 28,600 120,000 2021 36,800 29,200 25,200 120,000 29,000
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