Comparative statement data for Lionel Company and Barrymore Company, two competi

Question

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 $1,564,669 $339,522 Cost of goods sold 1,044,974 237,028 Operating expenses 275,763 76,188 Interest expense 7,310 2,540 Income tax expense 60,267 7,700 Current assets 403,211 $387,168 86,760 $ 81,866 Plant assets (net) 594,956 575,862 141,539 126,613 Current liabilities 64,149 75,043 20,741 12,742 Long-term liabilities 101,050 83,591 16,574 10,557 Common stock, $5 par 575,000 575,000 134,000 134,000 Retained earnings 257,968 229,396 56,984 51,180
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 $1,564,669 $339,522 Cost of goods sold 1,044,974 237,028 Operating expenses 275,763 76,188 Interest expense 7,310 2,540 Income tax expense 60,267 7,700 Current assets 403,211 $387,168 86,760 $ 81,866 Plant assets (net) 594,956 575,862 141,539 126,613 Current liabilities 64,149 75,043 20,741 12,742 Long-term liabilities 101,050 83,591 16,574 10,557 Common stock, $5 par 575,000 575,000 134,000 134,000 Retained earnings 257,968 229,396 56,984 51,180 Lionel Company Barrymore Company 2014 2013 2014 2013 Condensed Income Statement
For the Year Ended December 31, 2014 Lionel Company Barrymore Company Dollars Percent Dollars Percent Problem 14-1A (Part Level Submission) 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 $1,564,669 $339,522 Cost of goods sold 1,044,974 237,028 Operating expenses 275,763 76,188 Interest expense 7,310 2,540 Income tax expense 60,267 7,700 Current assets 403,211 $387,168 86,760 $ 81,866 Plant assets (net) 594,956 575,862 141,539 126,613 Current liabilities 64,149 75,043 20,741 12,742 Long-term liabilities 101,050 83,591 16,574 10,557 Common stock, $5 par 575,000 575,000 134,000 134,000 Retained earnings 257,968 229,396 56,984 51,180

Explanation / Answer

for vertical anaylis u have to divide each parameter by net sales. For ex - COGS value = COGS/ net revenue = 1044974/1564669

since we have to do analysis for 2014 so 2013 value is of no use .

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