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Mary Lynn Corporation has been operating for several years. Selected data from the 20X1 and 20X2 financial statements follow.
20X2
20X1
Current Assets
$86,000
$80,000
Property, Plant, and Equipment (net)
99,000
80,000
Intangibles
25,000
50,000
Current Liabilities
40,800
48,000
Long-Term Liabilities
153,000
150,000
Stockholders' Equity
16,200
12,000
Net Sales
500,000
Cost of Goods Sold
322,500
350,000
Operating Expenses
93,500
85,000
a. Prepare a vertical analysis for 20X1 and 20X2. Briefly comment on the results of your work.
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