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Prepare a vertical analysis of the 2022 income statement data for Sunland Company and Patricia Company. (Round percentages to 1 decimal place, e.g. 12.15) Condensed Income Statement Net Sales Cost of Goods Sold Gross Profit Operating Expenses Income From Operations Other Expenses and Losses Interest Expense Income Before Income Taxes Income Tax Expense Net Income /(Loss) eTextbook and Media V Return on assets Dollars Return on common stockholders' equity Sunland Company Percent Compute the 2022 return on assets and the return on common stockholders' equity ratios for both companies. (Round answers to 1 decimal place, e.g. 12.1%) Sunland Company Dollars Patricia Company Patricia Company Percent

Prepare a vertical analysis of the 2022 income statement data for Sunland Company and Patricia Company. (Round percentages to 1 decimal place, e.g. 12.15) Condensed Income Statement Net Sales Cost of Goods Sold Gross Profit Operating Expenses Income From Operations Other Expenses and Losses Interest Expense Income Before Income Taxes Income Tax Expense Net Income /(Loss) eTextbook and Media V Return on assets Dollars Return on common stockholders' equity Sunland Company Percent Compute the 2022 return on assets and the return on common stockholders' equity ratios for both companies. (Round answers to 1 decimal place, e.g. 12.1%) Sunland Company Dollars Patricia Company Patricia Company Percent

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 Sunland Company and Patricia Company. (Round percentages to 1 decimal place, e.g. 12.1%) Net Sales Cost of Goods Sold Gross Profit Operating Expenses Income From Operations Other Expenses and Losses Interest Expense Income Before Income Taxes Income Tax Expense Net Income/(Loss) eTextbook and Media V Return on assets Dollars Return on common stockholders' equity Condensed Income Statement Sunland Company Sunland Company % Percent Compute the 2022 return on assets and the return on common stockholders' equity ratios for both companies. (Round answers to 1 decimal place, eg. 12.1%) % % S % Patricia Company % Dollars % Patricia Company Percent % % % % % % % %
Transcribed Image Text:Prepare a vertical analysis of the 2022 income statement data for Sunland Company and Patricia Company. (Round percentages to 1 decimal place, e.g. 12.1%) Net Sales Cost of Goods Sold Gross Profit Operating Expenses Income From Operations Other Expenses and Losses Interest Expense Income Before Income Taxes Income Tax Expense Net Income/(Loss) eTextbook and Media V Return on assets Dollars Return on common stockholders' equity Condensed Income Statement Sunland Company Sunland Company % Percent Compute the 2022 return on assets and the return on common stockholders' equity ratios for both companies. (Round answers to 1 decimal place, eg. 12.1%) % % S % Patricia Company % Dollars % Patricia Company Percent % % % % % % % %
Here are comparative financial statement data for Sunland Company and Patricia 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 Sunland Company 2022 $1,812,000 1,020,156 269,988 9,060 54,360 324,000 521,400 2021 65,600 Patricia Company 2022 $559,000 297,388 78,819 4,472 6,708 2021 $313,600 83,200 $78,900 499,400 139,200 124,500 75,800 35,800 29,200 108,400 89,000 28,800 25,400 497,000 497,000 124,500 174,400 151,200 124,500 33,300 24,300
Transcribed Image Text:Here are comparative financial statement data for Sunland Company and Patricia 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 Sunland Company 2022 $1,812,000 1,020,156 269,988 9,060 54,360 324,000 521,400 2021 65,600 Patricia Company 2022 $559,000 297,388 78,819 4,472 6,708 2021 $313,600 83,200 $78,900 499,400 139,200 124,500 75,800 35,800 29,200 108,400 89,000 28,800 25,400 497,000 497,000 124,500 174,400 151,200 124,500 33,300 24,300
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