Question 10 of 11 < > -/3 E A Here are comparative financial statement data for...

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Question 10 of 11 < > -/3 E A Here are comparative financial statement data for Blossom Company and Crane Company, two competitors. All data are as of December 31, 2022, and December 31, 2021. Blossom Company Crane Company 2022 2021 2022 2021 Net sales $1,842,000 $561,000 Cost of goods sold 1,040,730 297,330 Operating expenses 268,932 77,979 Interest expense 9,210 3,927 Income tax expense 53,418 6,732 Current assets 323,500 $314,800 83,200 $78,600 Plant assets (net) 520,500 501,500 138,300 125,400 Current liabilities 64,000 74,800 34,000 28,600 Long-term liabilities 109,000 91,000 30,600 24,200 Common stock, $10 par 497,500 497,500 117,000 117,000 Retained earnings 173,500 153,000 39,900 34,200 (a) Prepare a vertical analysis of the 2022 income statement data for Blossom Company and Crane 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 + $ Condensed Income Statement For the Year Ended December 31, 2022 Blossom Company Dollars Percent 1,842,000. 100 % $ 1,040,730 56.5 % Crane Com Dollars 561,000 297,330 801,270 43.5 % 263,670 % % % % Question 10 of 11 < > -/3 E A Here are comparative financial statement data for Blossom Company and Crane Company, two competitors. All data are as of December 31, 2022, and December 31, 2021. Blossom Company Crane Company 2022 2021 2022 2021 Net sales $1,842,000 $561,000 Cost of goods sold 1,040,730 297,330 Operating expenses 268,932 77,979 Interest expense 9,210 3,927 Income tax expense 53,418 6,732 Current assets 323,500 $314,800 83,200 $78,600 Plant assets (net) 520,500 501,500 138,300 125,400 Current liabilities 64,000 74,800 34,000 28,600 Long-term liabilities 109,000 91,000 30,600 24,200 Common stock, $10 par 497,500 497,500 117,000 117,000 Retained earnings 173,500 153,000 39,900 34,200 (a) Prepare a vertical analysis of the 2022 income statement data for Blossom Company and Crane 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 + $ Condensed Income Statement For the Year Ended December 31, 2022 Blossom Company Dollars Percent 1,842,000. 100 % $ 1,040,730 56.5 % Crane Com Dollars 561,000 297,330 801,270 43.5 % 263,670 % % % %