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Accounting

 Accounting Basics Cost Accounting Financial Accounting Managerial Accounting Auditing Taxation

problem: Comparative statement information for Douglas and Maulder Company, two (2) competitors, appear below. All balance sheet data are as of December 31, 2009, & December 31, 2008.

 Douglas Company Maulder Company 2009 2008 2009 2008 Net sales \$1,549,035 \$339,038 Cost of goods sold 1,080,490 241,000 Operating expenses 79,000 302,275 Interest expense 8,980 2,252 Income tax expense 54,500 6,650 Current assets 325,975 \$312,410 83,336 \$79,467 Plant assets (net) 521,310 500,000 139,728 125,812 Current liabilities 65,325 75,815 35,348 30,281 Long-term liabilities 108,500 90,000 29,620 25,000 Common stock, \$10 par 500,000 500,000 120,000 120,000 Retained earnings 173,460 146,595 38,096 29,998

Instructions;
[A] Make a vertical analysis of the 2009 income statement information for Douglas firm and Maulder firm in columnar form.
[B] Comment on the relative profitability of the companies by calculating the return on assets & the return on common stockholders' equity ratios for both firms. Be sure to show your computations for each ratio using M.S. Excel [the details of the information used to compute].

Cost Accounting, Accounting

• Category:- Cost Accounting
• Reference No.:- M922532

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