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Author Question: Penny Saver Inc. and Buy 4 Less Stores are both discount retailers. As their adapted income ... (Read 53 times)

mustachegiraffe

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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
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Marked as best answer by mustachegiraffe on Feb 5, 2023

xinyiff

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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.
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mustachegiraffe

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Reply 2 on: Feb 5, 2023
Wow, this really help

Sarahjh

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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