Question 1 of 2 -111 ili Here are comparative statement data for Pharoah Company and Cullumber Company, two competitors. All balance sheet data are as of December 31, 2022, and December 31, 2021. Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $10 par Retained earnings Pharoah Company 2022 2021 $1,922,000 1,084,000 256,000 6,800 68,600 704,106 $674,806 1,137,888 1,080,000 143,262 163,760 246,218 194,400 1,080,000 1,080,000 372,514 316,645 Cullumber Company 2022 2021 $561,000 291,000 85.000 2,500 32.000 180,006 $ 171,649 301,812 271,754 76,352 65,407 63,979 54,000 259,200 259,200 82,287 64,796 (a) Prepare a vertical analysis of the 2022 income statement data for Pharoah Company and Cullumber Company. (Round all ratios to 1 decimal place, e.g. 2.5%.) Condensed Income Statement For the Year Ended December 31, 2022 Pharoah Company Cullumber Company - / 11 ill Question 1 of 2 Prepare a vertical analysis of the 2022 income statement data for Pharoah Company and Cullumber Company. (Round all ratios to 1 decimal place, eg. 2.5%.) Condensed Income Statement For the Year Ended December 31, 2022 Pharoah Company Cullumber Company Dollars Percent Percent Dollars $1,922,000 % Net Sales $561,000 291,000 1,084,000 Cost of Goods Sold 838,000 % 270,000 Gross Profit 256,000 % 85,000 Operating Expenses 185,000 % 582,000 Income From Operations Other Expenses and Losses % 2,500 6,800 Interest Expense 575.200 % 182,500 Income Before Income Taxes 68,600 % 32.000 Income Tax Expense $506,600 % $150,500 Net Income /(Loss) (51) Income Tax Expense 68,600 % 32,000 Net Income /(Loss) $506,600 % $150,500 (61) Compute the 2022 return on assets and the return on common stockholders' equity for both companies. (Round all ratios to 1 decimal place, e.g. 2.5%.) Pharoah Company Cullumber Company Return on assets % % % Return on common stockholders' equity % e Textbook and Media Submit Answer Attempts: 0 of 5 used Save for Later BITCH IS ME c 96