The following income statements were drawn from the annual reports of the Pines Company and the Yew
Question:
The following income statements were drawn from the annual reports of the Pines Company and the Yew Company:
Required
a. One of the companies is a high-end retailer that operates in exclusive shopping malls. The other operates discount stores that are located in low-cost, stand-alone buildings. Identify the high-end retailer and the discounter. Support your answer with appropriate ratios.
b. If Pines and Yew have equity of $16,200 and $20,400, respectively, which company is in the more profitablebusiness?
Transcribed Image Text:
Pines Yew Net sales Cost of goods sold Gross margin Less: Operating exp 32,600 17,930 14,670 S86,200 64,650 21,550 Selling and admin exp Net income 13,040 S 1,630 18,960 $ 2,590 All figures are reported in thousands of dollars
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 63% (19 reviews)
a Gross Margin Percentages Pines 45 14670 32600 Yew 25 21550 86200 ReturnonSales Rat...View the full answer
Answered By
Aysha Ali
my name is ayesha ali. i have done my matriculation in science topics with a+ . then i got admission in the field of computer science and technology in punjab college, lahore. i have passed my final examination of college with a+ also. after that, i got admission in the biggest university of pakistan which is university of the punjab. i am studying business and information technology in my university. i always stand first in my class. i am very brilliant client. my experts always appreciate my work. my projects are very popular in my university because i always complete my work with extreme devotion. i have a great knowledge about all major science topics. science topics always remain my favorite topics. i am also a home expert. i teach many clients at my home ranging from pre-school level to university level. my clients always show excellent result. i am expert in writing essays, reports, speeches, researches and all type of projects. i also have a vast knowledge about business, marketing, cost accounting and finance. i am also expert in making presentations on powerpoint and microsoft word. if you need any sort of help in any topic, please dont hesitate to consult with me. i will provide you the best work at a very reasonable price. i am quality oriented and i have 5 year experience in the following field.
matriculation in science topics; inter in computer science; bachelors in business and information technology
_embed src=http://www.clocklink.com/clocks/0018-orange.swf?timezone=usa_albany& width=200 height=200 wmode=transparent type=application/x-shockwave-flash_
4.40+
11+ Reviews
14+ Question Solved
Related Book For
Fundamental financial accounting concepts
ISBN: 978-0078025365
8th edition
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
Question Posted:
Students also viewed these Accounting questions
-
The following income statements were drawn from the annual reports of Harper Sales Company. The presidents message in the companys annual report stated that the company had implemented a strategy to...
-
The following income statements were drawn from the annual reports of Athens Company and Boulder Company: Required a. One of the companies is a high-end retailer that operates in exclusive shopping...
-
The following income statements were drawn from the annual reports of Pierro Sales Company. The president's message in the company's annual report stated that the company had implemented a strategy...
-
A mortgage loan officer uses math on a continual basis during the mortgage lending process. When a prospective borrower applies for a loan, many calculations are made: debt-to-income- ratio,...
-
Marine biologists have noticed that the color of the outermost growth band on a clam tends to be related to the time of the year in which the clam dies. A biologist conducted a small investigation of...
-
Gonzalez Electric Company has outstanding a 10 percent bond issue with a face value of $1,000 per bond and three years to maturity. Interest is payable annually. The bonds are privately held by...
-
The following are speeds (mi/h) of cars measured with a radar gun on the New Jersey Turnpike based on data from Statlib and authors Joseph Kadane and John Lamberth. 70 70 71 72 72 73 73 74 76 77 78...
-
In order to preserve the opportunity for growth and a possible franchise, what legal filings should Newmarks entity undertake? APC, Inc., is a venture capital firm that invests in new businesses to...
-
Producers of Electric Vehicle batteries are critical suppliers supporting the increasing demand to decarbonize transportation. The top global EV battery manufacturers are CATL (China) and LG (South...
-
Jay Rexford, president of Photo Artistry Company, was just concluding a budget meeting with his senior staff. It was November of 20x4, and the group was discussing preparation of the firms master...
-
Poole Company began the 2013 accounting period with $36,000 cash, $80,000 inventory, $70,000 common stock, and $46,000 retained earnings. During the 2013 accounting period, Poole experienced the...
-
At the end of 2013 the following information is available for Badger and Marmot companies: Required a. Prepare a common size income statement for each company. b. Compute the return on assets and...
-
State whether it is legal for a bank to require applicants for a credit analyst position to authorize the bank to perform a background check on the following items relating to the applicant: a....
-
An asset which will be used for 3 years and then put out of use was purchased for $19,200 on January 1, 2008, and will be sold three years later for $8,100. The company uses straight line to...
-
8. Consider the production of health as as function of two inputs, medicine as self care. Suppose that a new medicine product (may be a new vaccine, or a better treatment) increases the marginal...
-
Could you provide an in-depth explanation of process synchronization within the realm of concurrent computing, focusing on the functions of mutexes, semaphores, and monitors, and critically...
-
Question 2. Suppose that the demand for tickets is given by PD = 1,000 - 100 x Q, marginal revenue is given by MR = 1,000-/50 x Q, and the supply for tickets which is equal to marginal cost is given...
-
Ansel is interested in environmental preservation. To that end, he has purchased vast amounts of land and kept it as undeveloped as possible. Recently, Ansel purchased 200 acres of land in Ohio at a...
-
Calculate the quantity of work associated with a 3.5 L expansion of a gas (V) against a pressure of 748 mmHg in the units (a) Atm L; (b) Joules (J); (c) Calories (cal).
-
Juarez worked for Westarz Homes at construction sites for five years. Bever was a superintendent at construction sites, supervising subcontractors and moving trash from sites to landfills. He...
-
The daily number of customers entering a large grocery store who purchase one or more dairy products is given by the outcome of a binomial random variable \(X_{t}\) with parameters \(p\) and...
-
The following is an excerpt from a conversation between the chief executive officer, Kim Jenkins, and the chief financial officer, Steve Mueller, of Quatro Group Inc.: Kim: Steve, as you know, the...
-
Yukon Bike Corp. manufactures mountain bikes and distributes them through retail outlets in Canada, Montana, Idaho, Oregon, and Washington. Yukon Bike Corp. declared the following annual dividends...
-
A corporation with preferred stock and common stock outstanding has a substantial balance in its retained earnings account at the beginning of the current fiscal year. Although net income for the...
-
The Nelson Company has $1,590,000 in current assets and $530,000 in current liabilities. Its initial inventory level is $390,000, and it will raise funds as additional notes payable and use them to...
-
The Smith's and the Jones are neighbors. They both have a tax rate of 28.5 mills. The Smith's house is assessed at $80,000. The Jones' house is assessed at $67,000. How much more do the Smith's pay...
-
Required information RWP7-1 (Algo) Great Adventures Continuing Case [The following information applies to the questions displayed below.] Tony and Suzie see the need for a rugged all-terrain vehicle...
Study smarter with the SolutionInn App