Income As an aspiring financial analyst, you have applied to a major Wall Street firm for a summer job. To screen potential applicants, the firm provides you a short case study and asks you to evaluate the financial success of two hypothetical companies that started operations last year on January 1. Both companies operate in the same industry, use very similar assets, and have very similar customer bases. Among the additional information provided about the companies are the following comparative income statements.

Required:
Prepare an analysis of the two companies with the goal of determining which company is better managed. If you could request two additional pieces of information from these companies€™ financial statements, describe specifically what they would be and explain how they would help you to make a decision.

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Fast Corporation Slow Corporation Current Current Last Yea Year Last Year Year Net Sales Cost of Goods Sold $60,000 $600 $60,000 60,000 20,000 20,000 20,00020,000 40,000 Selling, General and Administrative Expenses 1900O 19,000 9000 ,000 5,000 ー (2222) -2,000 Gross Profit 40,000 40000 40,000 Depreciation Expense Loss (Gain) on Disposal Income from Operations 10,667 3,555 5,000 $10,333 196 S6000 14000