Current Attempt in Progress

Here are comparative statement data for Duke Company and Lord Company, two competitors. All balance sheet data are as of December 31, 2020, and December 31, 2019.

		Duke Company				Lord Company
		2020		2019		2020		2019
Net sales		$1,884,000				$561,000
Cost of goods sold		1,060,692				296,208
Operating expenses		261,876				79,662
Interest expense		9,420				4,488
Income tax expense		52,752				6,732
Current assets		321,000		$312,400		83,200		$79,500
Plant assets (net)		521,100		497,600		139,200		123,300
Current liabilities		65,800		74,400		35,800		31,800
Long-term liabilities		108,600		91,200		30,000		24,400
Common stock, $10 par		503,500		503,500		123,000		123,000
Retained earnings		164,200		140,900		33,600		23,600

(a)

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%.)

Condensed Income Statement choose the accounting period For the Year Ended December 31, 2020December 31, 2020For the Quarter Ended December 31, 2020
	Duke Company				Lord Company
	Dollars		Percent		Dollars		Percent
select an income statement item Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues	$enter a dollar amount		enter a percentage number rounded to 1 decimal place %		$enter a dollar amount		enter a percentage number rounded to 1 decimal place %
select an income statement item Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues	enter a dollar amount		enter a percentage number rounded to 1 decimal place %		enter a dollar amount		enter a percentage number rounded to 1 decimal place %
select a summarizing line for the first part Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues	enter a total amount for the first part		enter total percentages rounded to 1 decimal place %		enter a total amount for the first part		enter total percentages rounded to 1 decimal place %
select an income statement item Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues	enter a dollar amount		enter a percentage number rounded to 1 decimal place %		enter a dollar amount		enter a percentage number rounded to 1 decimal place %
select a summarizing line for the second part Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues	enter a total amount for the second part		enter total percentages rounded to 1 decimal place %		enter a total amount for the second part		enter total percentages rounded to 1 decimal place %
select an opening name for the third part Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues
select an income statement item Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues	enter a dollar amount		enter a percentage number rounded to 1 decimal place %		enter a dollar amount		enter a percentage number rounded to 1 decimal place %
select a summarizing line for the third part Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues	enter a total amount for all three parts		enter total percentages rounded to 1 decimal place %		enter a total amount for all three parts		enter total percentages rounded to 1 decimal place %
select an income statement item Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues	enter a dollar amount		enter a percentage number rounded to 1 decimal place %		enter a dollar amount		enter a percentage number rounded to 1 decimal place %
select a closing name for this statement Cost of Goods SoldDividendsExpensesGross ProfitIncome Before Income TaxesIncome From OperationsIncome Tax ExpenseInterest ExpenseNet Income / (Loss)Net SalesOperating ExpensesOther Expenses and LossesRevenuesTotal ExpensesTotal Revenues	$enter a total net income or loss amount		enter total percentages rounded to 1 decimal place %		$enter a total net income or loss amount		enter total percentages rounded to 1 decimal place %