I am really struggling understanding this assignment and hope you can help Prepare a vertical analysis of the 2022 income statement data for Cullumber Company and Ivanhoe Company. (Round percentagesto 1 decimal place, e.g. 12.1%.)<>><DollarsCondensed Income StatementCullumber CompanyPercent%%%%%%%LADollarsIvanh Here are comparative financial statement data for Cullumber Company and Ivanhoe Company, two competitors. All data are as ofDecember 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 earningsCullumber Company2022$1,836,0001,050,192268,0569,18053,244329,500 $311,800522,00064,000109,000496,0002021182,500497,00074,40090,000496,000148,400Ivanhoe Company2022$561,000296,20879,1013,9276,73282,600 $78,600138,600 124,80035,80028,600120,000202136,80029,20025,200120,00029,000

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Prepare a vertical analysis of the 2022 income statement data for Cullumber Company and Ivanhoe Company. (Round percentages to 1 decimal place, e.g. 12.1%.) $ Dollars Condensed Income Statement Cullumber Company Percent % % % % % % % $ Dollars Ivanh

Prepare a vertical analysis of the 2022 income statement data for Cullumber Company and Ivanhoe Company. (Round percentages to 1 decimal place, e.g. 12.1%.) $ Dollars Condensed Income Statement Cullumber Company Percent % % % % % % % $ Dollars Ivanh

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 48CE

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