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 $1,882,000 $610,000 Cost of goods sold 1,062,000 297,000 Operating expenses 255,000 83,000 Interest expense 7,100 3,400 Income tax expense 69,000 34,000 Current assets 537,859 $515,477 137,504 $131,121 Plant assets (net) 869,220 825,000 230,551 207,590 Current liabilities 109,436 125,095 58,324 49,964 Long-term liabilities 188,084 148,500 48,873 41,250 Common stock, $10 par 825,000 825,000 198,000 198,000 Retained earnings 284,559 241,882 62,858 49,497 Warning Don’t show me this message again for the assignment
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Exercise-13-1….docx
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