0 CH 14 ebook Common-sized income statement Show Me How Printe 4.02 1.03 105 1.06 ALGO...

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0 CH 14 ebook Common-sized income statement Show Me How Printe 4.02 1.03 105 1.06 ALGO 10 Sales Cost of goods sold 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 dolars The electronics industry averages, are expressed in percentages Electronics Tannenhill Industry Company Average $4,000,000 100% (2,120,000) (60) Gross profit $1,880,000 40% Selling expenses (1.080,000) (247% 21 Administrative expenses (640,000) (14) 22 Total operating expenses $(1,720,000) ( Operating income $160,000 2% Other revenue and expense Other revenue 120,000 3 Other expense (80,000) (2) Income before income tax expense $200,000 3% Income tax expense (80,000) (2) Net income $120,000 19 a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average Round your answers to the nearest whole percentage. Tannenhill Company Common-Sized Income Statement Check My Work 2 more Check My Work uses remaining 2/8 items Score 0.0% Previous Next>> Save and Ex Submit Assignment for Grading eBook Show Me How Pritam a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. Round your answers to the nearest whole percentage. Tannenhill Company Common-Sized Income Statement For the Year Ended December 31 Line Item Description Tannenhill Tannenhill Electronics Company Company Industry Amount Percent Average $4,000,000 100% Cost of goods sold (2,120,000) (60) Gross profit $1,880,000 40% Selling expenses $1,080,000) % (24)% Administrative expenses (640,000) (14) Total operating expenses $(1,720,000) % (38)% Operating income $160,000 " 2% Other revenue and expense Other revenue 120,000 3% Other expense (80,000) (2) Income before income tax expense $200,000 % 3% (80,000) (2) Income tax expense $120,000 Net income CO b. The company is managing the cost of manufacturing product than the industry, and has slightly L administrative expenses relative to the industry. The combined impact causes net income as a percent of sales to be) seling and than the industry average. Check My Work 2 more Check My Work uses remaining Previous Next> Save and Exit Submit Assignment for Grading 0 CH 14 ebook Common-sized income statement Show Me How Printe 4.02 1.03 105 1.06 ALGO 10 Sales Cost of goods sold 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 dolars The electronics industry averages, are expressed in percentages Electronics Tannenhill Industry Company Average $4,000,000 100% (2,120,000) (60) Gross profit $1,880,000 40% Selling expenses (1.080,000) (247% 21 Administrative expenses (640,000) (14) 22 Total operating expenses $(1,720,000) ( Operating income $160,000 2% Other revenue and expense Other revenue 120,000 3 Other expense (80,000) (2) Income before income tax expense $200,000 3% Income tax expense (80,000) (2) Net income $120,000 19 a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average Round your answers to the nearest whole percentage. Tannenhill Company Common-Sized Income Statement Check My Work 2 more Check My Work uses remaining 2/8 items Score 0.0% Previous Next>> Save and Ex Submit Assignment for Grading eBook Show Me How Pritam a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. Round your answers to the nearest whole percentage. Tannenhill Company Common-Sized Income Statement For the Year Ended December 31 Line Item Description Tannenhill Tannenhill Electronics Company Company Industry Amount Percent Average $4,000,000 100% Cost of goods sold (2,120,000) (60) Gross profit $1,880,000 40% Selling expenses $1,080,000) % (24)% Administrative expenses (640,000) (14) Total operating expenses $(1,720,000) % (38)% Operating income $160,000 " 2% Other revenue and expense Other revenue 120,000 3% Other expense (80,000) (2) Income before income tax expense $200,000 % 3% (80,000) (2) Income tax expense $120,000 Net income CO b. The company is managing the cost of manufacturing product than the industry, and has slightly L administrative expenses relative to the industry. The combined impact causes net income as a percent of sales to be) seling and than the industry average. Check My Work 2 more Check My Work uses remaining Previous Next> Save and Exit Submit Assignment for Grading