Net salesCost of goods soldOperating expensesInterest expenseIncome tax expenseCurrent assetsPlant assets (net)Current liabilitiesLong-term liabilitiesCommon stock, $10parRetained earnings(a)Dollars187200011007367712642639529360Your answer is correct.507312i54288497952Duke Company2020i$1,872,0001,100,736263,9529,36054,288443664326,000519,60066,000Duke Company107,800498.000173,8002019$314,500497,90075.80091,600Prepare a vertical analysis of the 2020 income statement data for Duke Company and Lord Company. (Round percentages to 1decimal place, e.g. 12.1%)498.000147,000Lord Company2020$559,000297,38879,3784,472Percent6.149141,00083.500 $78,600125,10029,80036,60030.400Condensed Income StatementFor the Year Ended December 31, 2020122.500 122,50035,000100 %%27.158.8 i%41.2 %14.1 i%%%26.6 %2.9 i %201923.7 %$25,600$25,800Dollars559000297388Lord Company26161279378 i18223444721777626149i171613Percent53.20100i46.814.2 i.832.631.81.1 i30.7 (b1)Compute the 2020 return on assets and the return on common stockholders' equity ratios for both companies. (Round answers to1 decimal place, e.g. 12.1%.)Return on assetsReturn on common stockholders' equityeTextbook and MediaSave for LaterDuke Company%%Lord CompanyAttempts: 0 of 3 used%%Submit Answer

Return on assets :— It is calculated by dividing net income by average total asset. Return on…

sold enses se pense 6 et) cies ilities $10 ings 1872000 0736 771264 3952 i 507312 9360 Duke Company 497952 2020 288 i $1,872,000 1,100,736 443664 263,952 answer is correct. 9,360 54,288 326,000 $314,500 519,600 66.000 Duke Company 107,800 498.000 173,800 2019 147,000 tical analysis of the 2020 income statement data for Duke Company and Lord Company. (Round percentages to 1 eg. 12.1%) Lord Company 2020 Percent $559,000 297,388 79,378 83.500 $78,600 497,900 141,000 125,100 75.800 36,600 29,800 91,600 58.8 4,472 6.149 498.000 122,500 122.500 30.400 Condensed Income Statement For the Year Ended December 31, 2020 5 35,000 100 % i % 41.2 % 14.1 i % 27.1 % % 26.6 % 2.9 i % 2019 23.7 % $ 25,600 $ 25,800 Dollars 559000 297388 261612 79378 Lord Company 182234 4472 177762 6149 i 171613 Percent 53.20 100 i 46.8 14.2 i 32.6 .8 i 31.8 1.1. i 30.7

sold enses se pense 6 et) cies ilities $10 ings 1872000 0736 771264 3952 i 507312 9360 Duke Company 497952 2020 288 i $1,872,000 1,100,736 443664 263,952 answer is correct. 9,360 54,288 326,000 $314,500 519,600 66.000 Duke Company 107,800 498.000 173,800 2019 147,000 tical analysis of the 2020 income statement data for Duke Company and Lord Company. (Round percentages to 1 eg. 12.1%) Lord Company 2020 Percent $559,000 297,388 79,378 83.500 $78,600 497,900 141,000 125,100 75.800 36,600 29,800 91,600 58.8 4,472 6.149 498.000 122,500 122.500 30.400 Condensed Income Statement For the Year Ended December 31, 2020 5 35,000 100 % i % 41.2 % 14.1 i % 27.1 % % 26.6 % 2.9 i % 2019 23.7 % $ 25,600 $ 25,800 Dollars 559000 297388 261612 79378 Lord Company 182234 4472 177762 6149 i 171613 Percent 53.20 100 i 46.8 14.2 i 32.6 .8 i 31.8 1.1. i 30.7

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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Question

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
(a)
Dollars
1872000
1100736
771264
263952
9360
Your answer is correct.
507312
i
54288
497952
Duke Company
2020
i
$1,872,000
1,100,736
263,952
9,360
54,288
443664
326,000
519,600
66,000
Duke Company
107,800
498.000
173,800
2019
$314,500
497,900
75.800
91,600
Prepare a vertical analysis of the 2020 income statement data for Duke Company and Lord Company. (Round percentages to 1
decimal place, e.g. 12.1%)
498.000
147,000
Lord Company
2020
$559,000
297,388
79,378
4,472
Percent
6.149
141,000
83.500 $78,600
125,100
29,800
36,600
30.400
Condensed Income Statement
For the Year Ended December 31, 2020
122.500 122,500
35,000
100 %%
27.1
58.8 i%
41.2 %
14.1 i%
%
%
26.6 %
2.9 i %
2019
23.7 %
$
25,600
$
25,800
Dollars
559000
297388
Lord Company
261612
79378 i
182234
4472
177762
6149
i
171613
Percent
53.20
100
i
46.8
14.2 i
.8
32.6
31.8
1.1 i
30.7

(b1)
Compute the 2020 return on assets and the return on common stockholders' equity ratios for both companies. (Round answers to
1 decimal place, e.g. 12.1%.)
Return on assets
Return on common stockholders' equity
eTextbook and Media
Save for Later
Duke Company
%
%
Lord Company
Attempts: 0 of 3 used
%
%
Submit Answer

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