Question 2 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 Net sales $1,872,000 Cost of goods sold 1,070,784 2019 2020 2019 $561,000 297,330 Operating expenses 265,824 78,540 Interest expense Income tax expense 9,360 3,927 54,288 6,732 Current assets 323,500 Plant assets (net) 522,000 Current liabilities Long-term liabilities 64,800 108,200 $310,300 497,600 74,400 89,600 82,300 $79,200 138,900 125,400 36,600 29,400 29,000 25,200 Common stock, $10 497,500 497,500 120,000 120,000 par Retained earnings 175,000 146,400 35,600 30,000