Question: Financial Statement Notes: Quarterly Data Quarterly data are presented below for Company C and Company D. One of these companies is Toys R Us, a
Financial Statement Notes: Quarterly Data Quarterly data are presented below for Company C and Company D. One of these companies is Toys R Us, a childrens specialty retail chain. The companys fiscal year ends on the Saturday nearest to January 31. The other company is the Gillette Company prior to its acquisition by Procter & Gamble. Gillette manufactures and sells blades, razors, and toiletries. Gillette was on a calendar year basis.
| (Amounts in Thousands) | |||||
|---|---|---|---|---|---|
| First Quarter | Second Quarter | Third Quarter | Fourth Quarter | Year | |
| Company C | |||||
| Net sales | $1,216.6 | $1,237.3 | $1,339.7 | $1,617.2 | $5,410.8 |
| Gross profit | 753.1 | 773.6 | 839.0 | 1,000.8 | 3,366.5 |
| Company D | |||||
| Net sales | $1,172.5 | $1,249.1 | $1,345.8 | $3,401.8 | $7,169.2 |
| Gross profit | 362.5 | 384.6 | 423.2 | 1,030.3 | 2,200.6 |
Required a. Compute the percentage of annual net sales generated each quarter by Company C. Round to the nearest percent. b. Compute the percentage of annual net sales generated each quarter by Company D. Round to the nearest percent.
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