Here are comparative statement data for Crane Company and Sheridan Company, two competitors. All balance sheet data are as of December 31, 2017, and December 31, 2016.     Crane Company   Sheridan Company     2017   2016   2017   2016 Net sales   $1,877,000       $587,000     Cost of goods sold   1,076,000       298,000     Operating expenses   261,000       83,000     Interest expense   8,000       2,600     Income tax expense   70,100       30,000                       Current assets   795,379   $762,280   203,340   $ 193,899 Plant assets (net)   1,285,392   1,220,000   340,936   306,981 Current liabilities   161,833   184,989   86,249   73,886 Long-term liabilities   278,136   219,600   72,273   61,000                   Common stock, $10 par   1,220,000   1,220,000   292,800   292,800 Retained earnings   420,802   357,692   92,954   73,195           Prepare a vertical analysis of the 2017 income statement data for Crane Company and Sheridan Company. (Round all ratios to 1 decimal place, e.g. 2.5%.)

Use the following tables to answer the question:   LOGIC COMPANY Income Statement For years ended December 31, 2016 and 2017 (values in $) 2016 2017 Gross sales 19,800 15,600 Sales returns and allowances 900 100 Net sales 18,900 15,500 COGS 11,800 8,800 Gross profit 7,100 6,700 Depreciation 780 640 Selling and administrative expenses 2,800 2,400 Research 630 540 Miscellaneous 440 340 Total operating expenses 4,650 3,920 Income before interest and taxes 2,450 2,780 Interest expense 640 540 Income before taxes 1,810 2,240 Provision for taxes 724 896 LOGIC COMPANY Balance Sheet For years ended December 31, 2016 and 2017 (values in $) 2016 2017 Current assets 12,300 9,400 Accounts receivable 16,900 12,900 Merchandise inventory 8,900 14,400 Prepaid expenses 24,400 10,400 Total current assets 62,500 47,100 Building (net) 14,900 11,400 Land 13,900 9,400 Total plant and equipment 28,800 20,800 Total assets 91,300 67,900 Accounts payable 13,400 7,400 Salaries payable 7,500 5,400 Total current…

Comparative financial statement data for Flounder Corp. and Blue Spruce Corp., two competitors, appear below. All balance sheet data are as of December 31, 2017.     Flounder Corp.   Blue Spruce Corp.     2017   2017 Net sales   $1,908,000   $657,200 Cost of goods sold   1,245,500   360,400 Operating expenses   299,980   103,880 Interest expense   9,540   4,028 Income tax expense   90,100   38,160 Current assets   444,000   199,036 Plant assets (net)   563,920   148,112 Current liabilities   70,305   35,739 Long-term liabilities   115,010   43,125 Net cash provided by operating activities   146,280   38,160 Capital expenditures   95,400   21,200 Dividends paid on common stock   38,160   15,900 Weighted-average number of shares outstanding   80,000   50,000 (a)Compute the net income and earnings per share for each company for 2017. (Round Earnings per share to 2 decimal places, e.g. $2.78.)     Net Income   Earnings per share Flounder Corp.   $…

Operating data for Sandhill Corporation are presented as follows. 2027 2026 Net sales $827,400 $647,900 Cost of goods sold 525,399 408,177 Selling expenses 124,110 77,748 Administrative expenses 74,466 51,832 Income tax expense 37,233 25,916 Net income 66,192 84,227 Prepare a schedule showing a vertical analysis for 2027 and 2026. (Round percentages to 1 decimal place, e.g. 12.1%.) SANDHILL CORPORATION Condensed Income Statements For the Years Ended December 31 Net sales $ Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income before income taxes Income tax expense Net income 2027 Amount Percent % $ % % % % ' " % % 10 $ % $ Amount 2026 Per