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Business, 27.12.2020 16:20 sash0924

Here are comparative statement data for Duke Company and Lord Company, two competitors. All balance sheet data are as of December 31, 2022, and December 31, 2021. Duke Company Lord Company
2022 2021 2022 2021
Net sales $1,849,000 $546,000
Cost of goods sold 1,063,200 289,000
Operating expenses 240,000 82,000
Interest expense 6,800 3,600
Income tax expense 62,000 28,000

Current assets 325,980 $312,410 83,336 $79,467
Plant assets (net) 526,800 500,000 139,729 125,812
Current liabilities 66,325 75,815 35,348 30,281
Long-term liabilities 113,990 90,000 29,620 25,000

Common stock, $10 par 500,000 500,000 120,000 120,000
Retained earnings 172,460 146,600 38,096 29,998

Required:
a. Prepare a vertical analysis of the 2022 income statement data for Duke Company and Lord Company.
b. Compute the 2022 return on assets and the return on common stockholders’ equity for both companies.

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Here are comparative statement data for Duke Company and Lord Company, two competitors. All balance...
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