Comparative statement data for Farris Company and Ratzlaff Company, two competitors, appear below. All balance...
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Accounting
Comparative statement data for Farris Company and Ratzlaff Company, two competitors, appear below. All balance sheet data are as of December 31, 2015, and December 31, 2014.
Farris Company
Ratzlaff Company
2015
2014
2015
2014
Net sales
$1,575,677
$339,305
Cost of goods sold
1,080,740
240,962
Operating expenses
303,677
79,070
Interest expense
8,680
2,260
Income tax expense
54,865
6,670
Current assets
324,047
$312,609
83,970
$ 79,171
Plant assets (net)
520,365
501,197
139,336
124,946
Current liabilities
64,433
74,030
35,991
29,109
Long-term liabilities
107,330
91,629
29,422
25,095
Common stock, $10 par
498,000
498,000
117,000
117,000
Retained earnings
174,649
150,147
40,893
32,913
Prepare a vertical analysis of the 2015 income statement data for Farris Company and Ratzlaff Company in columnar form. (Round percentages to 1 decimal place, e.g. 12.1%.)
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