Here are comparative financial statement data for Lily Company and Maria Company, two competitors. All data are as of December 31, 2022, and December 31, 2021.Net salesCost of goods soldOperating expensesInterest expenseIncome tax expenseCurrent assetsPlant assets (net)Current liabilitiesLong-term liabilitiesCommon stock, $10 parRetained earningsLily Company2022$1,836,0001,050,192268,0569,18053,244329,500522,00064,000109,000496,000182,5002021$311.800497,00074,40090,000496,000148,400Maria Company2022$561,000296,20879,1013,9276,73282,600138.60035,80028,600120,00036,8002021$78,600124,80029.20025,200120,00029,000 (b1)Compute the 2022 return on assets and the return on common stockholders' equity ratios for both companies. (Round answers to 1 decimal place, e.g. 12.1%.)Return on assetsReturn on common stockholders' equityLily Company%%Maria Company%%

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Here are comparative financial statement data for Lily Company and Maria Company, two competitors. All data are Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $10 par Lily Company 2022 $1,836,000 1,050,192 268,056 9,180 53,244 329,500 522,000 64,000 109,000 496,000 2021 $311.800 497,000 74,400 90,000 496,000 108.000 Maria Company 2022 $561,000 296,208 79,101 3,927 6,732 82,600 $78,600 138,600 124,800 35,800 28,600 120,000 2021 36.800 29,200 25,200 120,000 29.000 ber 31, 4

Here are comparative financial statement data for Lily Company and Maria Company, two competitors. All data are Net sales Cost of goods sold Operating expenses Interest expense Income tax expense Current assets Plant assets (net) Current liabilities Long-term liabilities Common stock, $10 par Lily Company 2022 $1,836,000 1,050,192 268,056 9,180 53,244 329,500 522,000 64,000 109,000 496,000 2021 $311.800 497,000 74,400 90,000 496,000 108.000 Maria Company 2022 $561,000 296,208 79,101 3,927 6,732 82,600 $78,600 138,600 124,800 35,800 28,600 120,000 2021 36.800 29,200 25,200 120,000 29.000 ber 31, 4

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 74E

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