Homework Answers
Common size statement expresses assets & liabilities as percent of total assets ans expense and profits as percent of sales.
(a.) Preparation of Common sized income statement comparing the result of operation for Tannenhill company with the industry average:
| Tannenhill Company | ||
| Common-sized Income Statement | ||
| For the year Ended December 31 | ||
| Particulars | Tannenhill Company | Electronics Industry Average |
| Net Sales | 100.00% | 100.00% |
| Cost of goods sold (2120000/4000000) | 53.00% | 60.00% |
| Gross Profit (A-B) or (1880000/4000000) | 47.00% | 40.00% |
| Selling Expense (1080000/4000000) | 27.00% | 24.00% |
| Admnistrative expense (640000/4000000) | 16.00% | 14.00% |
| Total Operating Expense | 43.00% | 38.00% |
| Operating Income (160000/4000000) | 4.00% | 2.00% |
| Other Revenue (120000/4000000) | 3.00% | 3.00% |
| 7.00% | 5.00% | |
| Other Expense (80000/4000000) | 2.00% | 2.00% |
| Income before Income tax (Other Revenue -Other expense) | 5.00% | 3.00% |
| Income Tax Expense (80000/4000000) | 2.00% | 2.00% |
| Net Income | 3.00% | 1.00% |
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Show Me How Calculator Common-Sized Income Statement Revenue and expense data for the current calendar year for Ta...
Show Me How Calculator Common-Sized Income Statement Revenue and expense data for the current calendar year...
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...
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:...
Common-Sized Income Statement Revenue and expense data for the current calendar year for Tannenhill Company and...
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...
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 $1,010,000 100 % Cost of goods sold 545,400 60 Gross profit $464,600 40 % Selling expenses $292,900 24 % Administrative expenses 111,100 10 Total operating expenses $404,000 34 % Operating income $60,600 6 % Other revenue 20,200...
Common-Sized Income Statement Revenue and expense data for the current calendar year for Tannenhill Company and...
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...
question#2 SHOW Me How Calculator Revenue and expense data for the current calendar year for Tannenhill...
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...
Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics...
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...
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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...
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Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics...
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 $1,740,000 100 % Cost of goods sold 1,078,800 68 Gross profit $661,200 32 % Selling expenses $400,200 18 % Administrative expenses 156,600 8 Total operating expenses $556,800 26 % Operating income $104,400 6 % Other revenue 34,800 2 $139,200 8...
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:...
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...
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...
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