Sales | $ 18,34,200 | 101.9% |
Sales Return and allownaces | $ 34,200 | 1.9% |
Net Sales | $ 18,00,000 | 100% |
Cost of Good sold | $ 10,98,000 | 61% |
Gross Profit | $ 7,02,000 | 39% |
Selling Expenses | $ 4,32,000 | 24% |
Administrative Expenses | $ 1,62,000 | 9% |
Total Operating Expenses | $ 5,94,000 | 33% |
Operating Income | $ 1,08,000 | 6% |
Other income | $ 36,000 | 2% |
$ 1,44,000 | 8% | |
Other Expenses | $ 18,000 | 1% |
Income before income tax | $ 1,26,000 | 7% |
Income tax | $ 54,000 | 3% |
Net Income | $ 72,000 | 4% |
Percentage is calculated as by taking net sales as base
Answer is
b. The cause of the higher selling expenses as a percent of sales
should be investigated
Common-Sized Income Statement Revenue and expense data for the current calendar year for Sorenson Electronics Company...
Common-Sized Income Statement Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill's data are expressed in dollars. The electronics industry averages are expressed in percentages. Electronics Tannenhill Industry Company Average Sales $1,980,000 100 % Cost of goods sold 1,128,600 61 Gross profit $851,400 39% Selling expenses $534,600 23% Administrative expenses 198,000 10 Total operating expenses $732,600 33% Operating income $118,800 6 % Other income 39,600 2. $158,400 8...
Common-Sized Income Statement Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill’s data are expressed in dollars. The electronics industry averages are expressed in percentages. Tannenhill Company Electronics Industry Average Sales $770,000 100 % Cost of goods sold 415,800 59 Gross profit $354,200 41 % Selling expenses $223,300 25 % Administrative expenses 84,700 10 Total operating expenses $308,000 35 % Operating income $46,200 6 % Other income 15,400...
Show Me How Calculator Common-Sized Income Statement Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill's data are expressed in dollars. The electronics industry averages are expressed in percentages. Tannenhill Company Electronics Industry Average Sales 100.0 % 60.0 40.0 % 24.0 % Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Operating income Other revenue $4,000,000 2,120,000 $1,680,000 $1,080,000 640,000 $1,720,000 $160,000 120,000 14.0...
Show Me How Calculator Common-Sized Income Statement Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill's data are expressed in dollars. The electronics industry averages are expressed in percentages. Tannenhill Company Electronics Industry Average Sales 100.0 % 60.0 40.0 % 24.0 % Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Operating income Other revenue $4,000,000 2,120,000 $1,680,000 $1,080,000 640,000 $1,720,000 $160,000 120,000 14.0...
Show Me How Calculator Common-Sted Income Statement Revenue and expense data for the current calendar year for t percentages h is Company and for the electronics industry are as follows. Tannenhil's data are expressed in dollars. The electronics industry everages are expressed in Electronics Sales Tannenhill Company $4,000,000 (2,120,000) Average 100.0 (600) Cost of goods sold $1.880,000 Gross profit Selling expenses Administrative expenses Total operating expenses 40.0 % (240) $(1,080,000) (640,000) $(1,720,000) $160,000 120,000 Operating income Other revenue and expense:...
Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. The Tannenhill’s data are expressed in dollars. The electronics industry averages are expressed in percentages. 1 Tannenhill Company Electronics Industry Average 2 Sales $4,000,000.00 100.0% 3 Cost of goods sold 2,120,000.00 60.0 4 Gross profit $1,880,000.00 40.0% 5 Selling expenses $1,080,000.00 24.0% 6 Administrative expenses 640,000.00 14.0 7 Total operating expenses $1,720,000.00 38.0% 8 Operating income $160,000.00 2.0% 9 Other...
Instructions Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. The Tannenhill’s data are expressed in dollars. The electronics industry averages are expressed in percentages. 1 Tannenhill Company Electronics Industry Average 2 Sales $4,920,000.00 100.0% 3 Cost of goods sold 2,533,800.00 56.5 4 Gross profit $2,386,200.00 43.5% 5 Selling expenses $1,328,400.00 24.0% 6 Administrative expenses 787,200.00 14.0 7 Total operating expenses $2,115,600.00 38.0% 8 Operating income $270,600.00 5.5% 9...
question#2 SHOW Me How Calculator Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics Industry are as follows. Tannenhill's data are expressed in dollars. The electronics Industry averages are expressed in percentages. - Tannenhill Company Electronics Industry Average Sales 100 % Cost of goods sold Gross profit 26 % Selling expenses 14 % $1,870,000 1,290,300 $579,700 $336,600 130,900 $467,500 $112,200 37,400 Administrative expenses Total operating expenses Operating income Other income $149,600 Other expense...
Horizontal Analysis of the Income Statement Income statement data for Winthrop Company for two recent years ended December 31, are as follows: Current Year Previous Year Sales $932,400 $740,000 Cost of goods sold 787,200 640,000 Gross profit $145,200 $100,000 Selling expenses $41,760 $36,000 Administrative expenses 37,200 30,000 Total operating expenses $78,960 $66,000 Income before income tax $66,240 $34,000 Income tax expenses 26,500 13,600 Net income $39,740 $20,400 a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease)...
What is the entry for the current year taxes on a common sized income statement ? What is the current years accounts payabke balance? What is the current years return on assets (ROA) ? What is the current years return on equity (ROE) ? What is the current years entry for long term debt on a common sized balance sheet ? Could you please round the percentages to two decimal places Prior Year Current Year Category Accounts payable ??? ???...