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Problem 9-1 (Part Level Submission) Here are comparative statement data for Sandhill Company and Carla...

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Problem 9-1 (Part Level Submission) Here are comparative statement data for Sandhill Company and Carla Vista Company, two competitors. All balance sheet data are as of December 31, 2017, and December 31, 2016. Sandhill Company Carla Vista Company 2017 2016 2017 2016 Net sales Cost of goods sold Operating expenses Interest expense $1,906,000 1,072,000 271,000 7,200 $581,000 295,000 93,000 2,000 Income tax expense 73,300 29,000 Current assets Plant assets (net) 697,587 1,127,352 141,936 243,939 $668,557 1,070,000 162,244 192,600 178,339 299,018 75,645 63,387 $ 170,059 269,238 64,801 53,500 Current liabilities Long-term liabilities 1,070,000 1,070,000 256,800 256,800 Common stock, $10 par Retained earnings 369,064 313,713 81,525 64,196 (a) Prepare a vertical analysis of the 2017 income statement data for Sandhill Company and Carla Vista Company. (Round all ratios to 1 decimal place, e.g. 2.5%.) Condensed Income Statement For the Year Ended December 31, 2017 Sandhill Company Carla Vista Company Dollars Percent Dollars Percent $1,906,000 % $581,000 % 1,072,000 % 295,000 % 834,000 % 286,000 % 271,000 % 93,000 %

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