Question

Compare Income Statements and Balance Sheets of Competitors
a. Following are selected income statement data for two communications companies, Comcast and Verizon, for the year ended December 31, 2018. Express each income statement amount as a percentage of sales.
Note: Round percentage to one decimal point (for example, round 18.566% to 18.6%).

Income Statement ($ millions)	Comcast		Verizon
Sales	$96,397		$133,480
Operating costs	75,498		108,585
Operating profit	20,899		24,895
Nonoperating expenses	7,290		6,364
Net income	$13,609		$18,531

b. Following are selected balance sheet data for two communications companies, Comcast and Verizon, for the year ended December 31, 2018. Express each balance sheet amount as a percentage of total assets.
Note: Round percentage to one decimal point (for example, round 18.566% to 18.6%).

Balance Sheet ($ millions)	Comcast		Verizon
Current assets	$22,285		$35,329
Long-term assets	229,836		230,193
Total assets	$252,121		$265,522
Current liabilities	$28,155		$38,689
Long-term liabilities	154,611		175,633
Total liabilities	$182,766		$214,322
Stockholders’ equity*	69,355		51,200
Total liabilities and equity	$252,121		$265,522

*Includes noncontrolling interest

Answer 1