Here are comparative statement data for Carla December 31, 2016. Vista Company a

Question

Here are comparative statement data for Carla December 31, 2016. Vista Company and Wildhorse Company, two competitors. All balance sheet data are as of December 31, 2017, an Carla Vista Company Wildhorse Company 2017 2016 20172016 Net sales Cost of goods sold 1,072,000 Operating expenses 268,000 Interest expense $572,000 294,000 92,000 3,100 33,000 $1,934,000 8,200 459,625 $440,498 117,504 $ 112,048 742,788 705,000 197,016 177,395 93,518 106,899 49,841 42,696 160,726 126,900 41,764 35,250 Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $10 705,000 705,000 169,200 169,200 par Retained earnings 243,169 206,699 53,71542,297

Explanation / Answer

Carla Vista Company Wildhorse Company Dollars Percent Dollars Percent Net sales 1934000 100.0% 572000 100.0% Cost of Goods Sold 1072000 55.4% 294000 51.4% Gross Profit 862000 44.6% 278000 48.6% Operating Expenses 268000 13.9% 92000 16.1% Income From Operations 594000 30.7% 186000 32.5% Other Expenses and Losses Interest Expense 8200 0.4% 3100 0.5% Income Before Income Taxes 585800 30.3% 182900 32.0% Income Tax expense 67400 3.5% 33000 5.8% Net Income / (Loss) 518400 26.8% 149900 26.2%

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