Revenue and expense data for the current calendar year for Bull Run Company and for the electronics
Question:
Revenue and expense data for the current calendar year for Bull Run Company and for the electronics industry are as follows. The Bull Run Company data are expressed in dollars. The electronics industry averages are expressed in percentages.
a. Prepare a common-sized income statement comparing the results of operations for Bull Run Company with the industry average. Round to one decimal place.
b. As far as the data permit, comment on significant relationships revealed by thecomparisons.
Transcribed Image Text:
Electronics Industry Average 105.096 5.0 100.0% Bull Run Sales Sales returns and allowance Net sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Operating income Other income Company $2,100,000 100,000 $2,000,000 1,040,000 $960,000 560,000 300,000 5 860,000 100,000 60,000 160,000 40,000 S 120,000 60,000 S60,000 12.0 60% 3.0 90% Other expense Income before income tax Income tax expense Net income 70% 1.090
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Related Book For
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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