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 64 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
:D TYSM

sarah_brady415

  • Member
  • Posts: 328
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

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.

Did you know?

The B-complex vitamins and vitamin C are not stored in the body and must be replaced each day.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

Eating food that has been cooked with poppy seeds may cause you to fail a drug screening test, because the seeds contain enough opiate alkaloids to register as a positive.

Sources of income for U.S. population aged 65 and over. Sources of income for U.S. population aged 65 and over.
Income per Capita versus Inequality Income per Capita versus Inequality
Income per Capita versus Income of the Bottom Quintile Income per Capita versus Income of the Bottom Quintile
How Health Interacts with Income How Health Interacts with Income
Health and Income per Capita: Two Views Health and Income per Capita: Two Views
Saving Rate by Decile of Income per Capita Saving Rate by Decile of Income per Capita
Video: Hierarchical Sequencing Method - Sequence Tagged Sites

For a complete list of videos, visit our video library