Compare Income Statements and Balance Sheets of Competitors a. Following are selected income statement data for...
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Compare Income Statements and Balance Sheets of Competitors a. Following are selected income statement data for two communications companies, Comcast and Verizon, for the year ended December 31, 2018. Express each income statement amount as a percentage of sales. Note: Round percentage to one decimal point (for example, round 18.566% to 18.6%). Comcast Verizon Income Statement ($ millions) Sales Operating costs Operating profit % $121,703 % 108,585 13,118 5,802 $7,316 96 96 Nonoperating expenses Net income 96 b. Following are selected balance sheet data for two communications companies, Comcast and Verizon, for the year ended December 31, 2018. Express each balance sheet amount as a percentage of total assets. Note: Round percentage to one decimal point (for example, round 18.566% to 18.6%). Comcast Balance Sheet($ millions) Current assets Long-term assets $87,892 75,498 12,394 6,647 $5,747 Total assets Current liabilities Long-term liabilities Total liabilities $20,319 229,836 $250,155 $25,671 140,968 $166,639 Stockholders' equity* 83,516 Total liabilities and equity $250,155 *Includes noncontrolling interest Verizon % $32,211 % 230,193 % $262,404 % $35.275 %6 160,136 % $195.411 %6 66,993 % $262,404 %6 % %6 % %6 % %6 % 96 %6 96 96 96 Compare Income Statements and Balance Sheets of Competitors a. Following are selected income statement data for two communications companies, Comcast and Verizon, for the year ended December 31, 2018. Express each income statement amount as a percentage of sales. Note: Round percentage to one decimal point (for example, round 18.566% to 18.6%). Comcast Verizon Income Statement ($ millions) Sales Operating costs Operating profit % $121,703 % 108,585 13,118 5,802 $7,316 96 96 Nonoperating expenses Net income 96 b. Following are selected balance sheet data for two communications companies, Comcast and Verizon, for the year ended December 31, 2018. Express each balance sheet amount as a percentage of total assets. Note: Round percentage to one decimal point (for example, round 18.566% to 18.6%). Comcast Balance Sheet($ millions) Current assets Long-term assets $87,892 75,498 12,394 6,647 $5,747 Total assets Current liabilities Long-term liabilities Total liabilities $20,319 229,836 $250,155 $25,671 140,968 $166,639 Stockholders' equity* 83,516 Total liabilities and equity $250,155 *Includes noncontrolling interest Verizon % $32,211 % 230,193 % $262,404 % $35.275 %6 160,136 % $195.411 %6 66,993 % $262,404 %6 % %6 % %6 % %6 % 96 %6 96 96 96
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a Income Statement as a Percentage of Sales Comcast Operating Costs 75498 ... View the full answer
Related Book For
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
Posted Date:
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