Question: Here are comparative financial statement data for Bramble Company and Maria Company, two competitors. All data are as of December 31, 2022, and December 31,
Here are comparative financial statement data for Bramble Company and Maria Company, two competitors. All data are as of December 31, 2022, and December 31, 2021.
| Bramble Company | Maria Company | |||||||
|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | 2022 | 2021 | |||||
| Net sales | $1,824,000 | $559,000 | ||||||
| Cost of goods sold | 1,050,624 | 296,829 | ||||||
| Operating expenses | 269,952 | 79,937 | ||||||
| Interest expense | 7,296 | 4,472 | ||||||
| Income tax expense | 54,720 | 6,708 | ||||||
| Current assets | 329,000 | $312,100 | 82,300 | $78,900 | ||||
| Plant assets (net) | 520,800 | 499,700 | 140,700 | 125,100 | ||||
| Current liabilities | 65,000 | 74,200 | 34,400 | 29,000 | ||||
| Long-term liabilities | 108,400 | 92,000 | 30,800 | 25,200 | ||||
| Common stock, $10 par | 495,500 | 495,500 | 122,500 | 122,500 | ||||
| Retained earnings | 180,900 | 150,100 | 35,300 | 27,300 | ||||
(a)
Prepare a vertical analysis of the 2022 income statement data for Bramble Company and Maria Company. (Round percentages to 1 decimal place, e.g. 12.1%.)
| Condensed Income Statement choose the accounting period |
|---|
| Bramble Company | Maria Company | ||||||
|---|---|---|---|---|---|---|---|
| Dollars | Percent | Dollars | Percent | ||||
| select an income statement item | |||||||
| $enter a dollar amount | enter percentages rounded to 1 decimal place % | $enter a dollar amount | enter percentages rounded to 1 decimal place % | ||||
| select an income statement item |
| enter a dollar amount | enter percentages rounded to 1 decimal place % | enter a dollar amount | enter percentages rounded to 1 decimal place % | ||||
| select a summarizing line for the first part |
| enter a total amount for the first part | enter percentages rounded to 1 decimal place % | enter a total amount for the first part | enter percentages rounded to 1 decimal place % | ||||
| select an income statement item |
| enter a dollar amount | enter percentages rounded to 1 decimal place % | enter a dollar amount | enter percentages rounded to 1 decimal place % | ||||
| select a summarizing line for the second part |
| enter a total amount for the second part | enter percentages rounded to 1 decimal place % | enter a total amount for the second part | enter percentages rounded to 1 decimal place % | ||||
| select an opening section name |
| select an income statement item |
|---|
| enter a dollar amount | enter percentages rounded to 1 decimal place % | enter a dollar amount | enter percentages rounded to 1 decimal place % | ||||
| select a summarizing line for the third part |
| enter a total amount for all three parts | enter percentages rounded to 1 decimal place % | enter a total amount for all three parts | enter percentages rounded to 1 decimal place % | ||||
| select an income statement item |
| enter a dollar amount | enter percentages rounded to 1 decimal place % | enter a dollar amount | enter percentages rounded to 1 decimal place % | ||||
| select a closing name for this statement |
| $enter a total net income or loss amount | enter percentages rounded to 1 decimal place % | $enter a total net income or loss amount | enter percentages rounded to 1 decimal place % |
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