Question

Compare Income Statements and Balance Sheets of Competitors a. Following are selected income statement data for...

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

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