Here are comparative financial statement data for Sheridan Company and Pina Company, two competitors. All data are as of December 31, 2025, and December 31, 2024. 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 Retained earnings Sheridan Company 2025 $1,874,000 1,069,000 266,000 8,100 71,600 488,963 $468,615 790,200 750,000 113,723 99,488 2024 170,985 750,000 258,690 135,000 750,000 219,892 Pina Company 2025 $563,000 281,000 91,000 2,500 35,000 125,004 209,592 53,022 44,430 180,000 57,144 2024 $119,201 188,718 45,422 37,500 180,000 44,997
Here are comparative financial statement data for Sheridan Company and Pina Company, two competitors. All data are as of December 31, 2025, and December 31, 2024. 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 Retained earnings Sheridan Company 2025 $1,874,000 1,069,000 266,000 8,100 71,600 488,963 $468,615 790,200 750,000 113,723 99,488 2024 170,985 750,000 258,690 135,000 750,000 219,892 Pina Company 2025 $563,000 281,000 91,000 2,500 35,000 125,004 209,592 53,022 44,430 180,000 57,144 2024 $119,201 188,718 45,422 37,500 180,000 44,997
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter5: Inventories And Cost Of Goods Sold
Section: Chapter Questions
Problem 5.21MCE
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