Problem 14-1a comparative statement data for lionel company

Reference no: EM13570014

*Problem 14-1A 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 *(a) Prepare a vertical analysis of the 2014 income statement data for Lionel Company and Barrymore Company in columnar form.

Reference no: EM13570014

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