1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Brrunno [24]
3 years ago
9

Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. T

annenhill’s data are expressed in dollars. The electronics industry averages are expressed in percentages. Tannenhill Company Electronics Industry Average Sales $2,480,000 100 % Cost of goods sold 1,587,200 70 Gross profit $892,800 30 % Selling expenses $545,600 17 % Administrative expenses 198,400 7 Total operating expenses $744,000 24 % Operating income $148,800 6 % Other revenue 49,600 2 $198,400 8 % Other expense 24,800 1 Income before income tax $173,600 7 % Income tax expense 74,400 5 Net income $99,200 2 %
Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average.
Business
1 answer:
Dmitry_Shevchenko [17]3 years ago
7 0

Answer:

Explanation:

A common sized income statement is a method of financial statement that express every line item on a financial statement as a percentage of sale for the ease of financial analysis

                             Tannenhill's              %        Industry average

Revenue               2,480,000             100                  100%

Cost of Goods      1,587,200                64                    70

Gross profit           892,800                  36                  30

Selling expenses    545600                 22                    17

Admin expenses     198400                  8                       7

Total ope. Expe.       744000                30                    24

Ope. Income             148600                 6                      6

Other Revenue          49600                  2                      2

                                   198400                 8                      8

Other Expenses         24800                  1                        1

PBIT                             173600                7                       7

Income Tax                  74400                 3                       5

Net Income                  99200                4                       2

You might be interested in
Hungry lunch has net income of $73,402, a price-earnings ratio of 13.7, and earnings per share of $.43. How many shares of stock
kati45 [8]

Answer: The number of shares outstanding is approximately 170702.32 shares.

We have :

EPS                       $0.43

Net Income       $73,402

The formula for computing EPS is

EPS = \frac{Net Income}{Number of shares outstanding}

Substituting the values from the question in the formula above we get,

Number of shares outstanding = \frac{73402}{0.43}

Number of shares outstanding = 170702.3256

7 0
3 years ago
Read 2 more answers
Ideally, what will the U.S. Census Bureau will help you identify? Question 4 options: The kind of population living in your neig
Nutka1998 [239]

Answer:

Option 1

Explanation:

The US Census Bureau will help you identify the kind of population living in your neighborhood.

7 0
3 years ago
What advantage is there for a company to offer products at prices below actual market value? Multiple choice question. It maximi
sleet_krkn [62]

Answer: Customers are more likely to try the product because they are not risking as much money.

Explanation:

Many market have competition, despite customers want the best for their money, they still want the best various prices especially that which is a bit lower, so they know they are not spending much but also getting the best. Some organization would want to sail their market either when entering the market or when they are experiencing a low sales, they now consider reducing the price of their items, in this case, customers would consider them because they are not spending much money

4 0
2 years ago
In a market system: A. a firm's owners are largely shielded from risk because they can walk away from the business at any time.
Karo-lina-s [1.5K]

Answer:

The correct answer is option B.

Explanation:

In a market system, the suppliers and employees are generally shielded from risk. The stockholders and owners of the business are most exposed to risk.

The employees will get their salaries which are fixed and the suppliers will get payments for their supplies. The profits of business owners and stockholders may fluctuate so they are exposed to risk.

The employees and suppliers do not get to share profits but they are shielded from risks.

7 0
3 years ago
Skysong Crusher is a licensed CPA. During the first month of operations of her business (a sole proprietorship), the following e
liubo4ka [24]

Answer:

Explanation:

First of all, to make it easy, "Debit" will be written as "Dr" and "Credit" as "Cr"                  

                                       General journal

April 2

Dr Cash $27 070  

Dr Equipment $12 900

   Cr Owner's Capital      $39 970

April 2 No transaction has occurred

April 3

Dr Supplies $833  

   Cr Accounts Payable $833

April 7

Dr Rent Expense $546  

    Cr Cash          $546

April 11

Dr Accounts Receivable $1160

   Cr Revenue             $1160

April 12

Dr Cash $2,589

    Cr Unearned Revenue $2,589

April 17

Dr Cash $2,201  

    Cr Revenue  $2,201

April 21

Dr Insurance Expense $100.30

     Cr Cash                $100.30

April 30

Dr Salaries Expense $1,020

     Cr Cash                $1,020

April 30

Dr Supplies Expense $122

     Cr Supplies         $122

April 30

Dr Equipment $5,266

    Cr Capital  $5,266

8 0
3 years ago
Other questions:
  • The blurring of the lines separating the subsets of the financial industry started in the 1970s. 1990s. 1960s. 1940s.
    12·1 answer
  •  A sick relative has decided to create a living will. Based on your knowledge of living wills, what type of information do you t
    11·1 answer
  • All of the accounts of the Grass is Greener Company have been adjusted as of December 31, 2016, with the exception of income tax
    11·1 answer
  • Republican influence in big business and their party’s domination of government resulted in a close relationship between big bus
    15·1 answer
  • Inflation is when _________ money is paid for the same amount of goods and services than in a previous time period. the same amo
    7·1 answer
  • The following are Silver Corporation's unit costs of making and selling an item at a volume of 8,000 units per month (which repr
    11·1 answer
  • Anyone got sc? mines babyjas04
    12·1 answer
  • Calculate the interest for a loan of $10,000 with an interest
    9·1 answer
  • The quantity supplied for sugar has decreased due to a change in price. How would this change in quantity supplied be represente
    6·1 answer
  • Greeting is the initial stage of the personal selling process that allows the sales person to "break the ice with the prospect.
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!