This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Penny Saver Inc. and Buy 4 Less Stores are both discount retailers. As their adapted income ... (Read 62 times)

mustachegiraffe

  • Full Member
  • ***
  • Posts: 179
on: Feb 5, 2023
Penny Saver Inc. and Buy 4 Less Stores are both discount retailers. As their adapted income statements (in $ millions) for 2021 show, Penny Saver sales revenue and net income were more than three times those amounts of Buy 4 Less.

​​Penny SaverBuy 4 Less
Sales$4,644.9$1,302.9
Cost of goods sold  3,052.7     791.0
Gross profit1,592.2511.9
Selling, general & administrative expenses  1,226.4     498.9
Net operating income365.813.0
Other expense         6.7           .4
Income before taxes359.112.6
Income tax expense     129.6         4.1
Net income$   229.5$       8.5

Required:

a.Prepare a common-size income statement for each company. Express all percentages
using one decimal place. Your answers may not add perfectly due to rounding.
b.Which company did the better job of managing expenses? How did you reach your
conclusion?
Managerial Accounting ¦ Davis ¦ 4th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by mustachegiraffe on Feb 5, 2023

xinyiff

  • Full Member
  • ***
  • Posts: 181
Reply #1 on: Feb 5, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 58% of students answer this correctly


mustachegiraffe

  • Member
  • Posts: 179
Reply 2 on: Feb 5, 2023
Gracias!

ryansturges

  • Member
  • Posts: 338
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

General differences in food webs and carbon flow among terrestrial and aquatic ecosystems (adapted f General differences in food webs and carbon flow among terrestrial and aquatic ecosystems (adapted f
Global Stratification: Income of the World's Nations Global Stratification: Income of the World's Nations
Global Stratification: Income of the World's Nations Global Stratification: Income of the World's Nations
Income of Adult Children Compared With That of Their Parents Income of Adult Children Compared With That of Their Parents
Visual tracking of a pendulum by a normal control subject (top) and three schizophrenics. (Adapted ... Visual tracking of a pendulum by a normal control subject (top) and three schizophrenics. (Adapted ...
Stores Stores
Video: Mechanics of Sound Animation

For a complete list of videos, visit our video library