Here are comparative financial statement data for Waterway Company and Lisa Company, two competitors. All...
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Accounting
Here are comparative financial statement data for Waterway Company and Lisa Company, two competitors. All data are as of December 31, 2022, and December 31, 2021.
Waterway Company
Lisa Company
2022
2021
2022
2021
Net sales
$1,824,000
$559,000
Cost of goods sold
1,030,560
296,829
Operating expenses
268,128
79,937
Interest expense
7,296
3,913
Income tax expense
52,896
7,267
Current assets
322,000
$310,600
82,600
$79,200
Plant assets (net)
519,900
498,200
140,100
124,500
Current liabilities
65,000
75,000
35,800
31,400
Long-term liabilities
108,000
90,200
28,600
25,200
Common stock, $10 par
497,000
497,000
117,000
117,000
Retained earnings
171,900
146,600
41,300
30,100
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