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Category > Accounting Posted 29 Jul 2017 My Price 11.00

Lionel Company

P14-1 Comparative statement data for Lionel Company and Barrymore Company, two competitors, appear below. All balance sheet data are as of December 31, 2014, and December 31, 2013.

 

Lionel Company                   Barrymore  Company

 

 

2014

 

2013

 

2014

 

2013

Net sales

$1,549,035

 

 

 

$339,038

 

 

Cost of goods sold

1,053,345

 

 

 

237,325

 

 

Operating expenses

278,825

 

 

 

77,979

 

 

Interest expense

7,745

 

 

 

2,034

 

 

Income tax expense

61,960

 

 

 

8,476

 

 

Current assets

401,584

 

$388,020

 

86,450

 

$ 82,581

Plant assets (net)

596,920

 

575,610

 

142,842

 

128,927

Current liabilities

65,015

 

75,507

 

19,618

 

14,654

Long-term liabilities

102,500

 

84,000

 

16,711

 

11,989

Common stock, $5 par

578,765

 

578,765

 

137,435

 

137,435

Retained earnings

252,224

 

225,358

 

55,528

 

47,430

 

Instructions

(a)  Prepare a vertical analysis of the 2014 income statement data for Lionel Company and Barrymore Company in columnar form.

(b)  Comment on the relative profitability of the companies by computing the return on assets and the return on common stockholders’ equity ratios for both companies.

Answers

Maurice Tutor
(5)
Status NEW Posted 29 Jul 2017 06:07 PM My Price 11.00

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