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mr_godi [17]
2 years ago
9

A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: McKenzie Sales, Ltd. Comparative Income Stat

ement This Year Last Year Sales $ 7,380,000 $ 5,608,800 Cost of goods sold 4,630,000 3,512,500 Gross margin 2,750,000 2,096,300 Selling and administrative expenses: Selling expenses 1,371,000 1,076,500 Administrative expenses 711,000 609,000 Total expenses 2,082,000 1,685,500 Net operating income 668,000 410,800 Interest expense 102,000 92,000 Net income before taxes $ 566,000 $ 318,800 Members of the company’s board of directors are surprised to see that net income increased by only $247,200 when sales increased by $1,771,200.
Required:
1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (i.e., 0.1234 should be entered as 12.3).)

Business
1 answer:
vfiekz [6]2 years ago
3 0

Answer:

See explanation section

Explanation:

See image below to get the possible answer:

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Refer to the scenario below to answer the following question(s). Giant Beanstalks is a company based in Maryland that processes
creativ13 [48]

Answer:

Exclusive distribution

Explanation:

Exclusive distribution is defined as an agreement between a producer and retailer that gives the exclusive right to a retailer to distribute the products of a supplier within a given geographical location. Only one distributor is used by the supplier within a given area.

In the secanrio given Giant Beanstalk a company that processes and cans vegetables, recieves raw materials from over 80 companies. It only gives distribution rights to Greenleaf a grocery chain with 38 stores in the country.

5 0
3 years ago
Stefanie opens a checking account at her neighborhood bank and writes a check on her account. The legal relationship between Ste
Bingel [31]

Answer:

c. An agency relationship

Explanation:

An agency relationship is a mutual relationship, in which one person (i.e the principle ) gives a permission to an agent so as to act on their behalf.

In this relationship the agent must consent to the instructions of the person i.e the principle.

Here in the question, Stefanie acting as Principal who has directed the agent (which is the bank in the given case ) to execute a task.

3 0
2 years ago
It is necessary to retain information for two significant reasons: legal obligation and business needs. Data that occupies the c
baherus [9]

Answer:

The correct answer is letter "B": business.

Explanation:

Business data represents the information of the transactions a company carries out as a result of its operations. Information about suppliers and customers is recorded for control purposes and, mainly, to cover the legal obligation to report the accounting analysis of the firm in the Financial Statements.

Besides, the accounting information of a firm allows managers to compare budget expectations with the current performance of the company to take decisions on what course the entity should follow to reach its objectives.

6 0
2 years ago
The type of scarcity in the cartoon?​
o-na [289]
Economic cartoons is your answer
8 0
3 years ago
Burns Industries currently manufactures and sells 23,000 power saws per month, although it has the capacity to produce 38,000 un
Dmitrij [34]

Answer:

Increase by $37,100.

It will accept any time the price is above $43 with the condition it will not incur in additional fixed cost.

$63. is the sales price that generates 106,000 dollar of operating income

Explanation:

As the units will not inccur in any additional fixed cost we should check for the contribution margin this units will provide:

50 dollars - 43 dollar of variable cost = 7 dollars

5,300 saws x $7 = 37,100

The sales reveues will increase by that amount.

(5,300 x $43 dollars each in cost + 106,000 contribution )/5,300 = sales price

sales price = 63

6 0
2 years ago
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