Financial Statement Notes: Quarterly Data

Quarterly data are presented below for Company A and Company B$.$ One of these companies is Gibson Greetings, Inc., which manufactures and sells greeting cards. The other company is Hon Industries, Inc., which manufactures and sells office furniture. Both companies are on a calendar year basis.

$($Amounts in Thousands$)$First

QuarterSecond

QuarterThird

QuarterFourth

Quarter

YearCompany ANet sales$$186,111$$$177,537$$$203,070$$$213,608$$$780,326$Gross profit$55,45753,64364,02469,374242,498$Company BNet sales$$84,896$$$83,796$$$142,137$$$235,336$$$546,165$Gross profit$53,90052,98366,018104,961277,862$

Required

a$.$ Compute the percent of annual net sales generated each quarter by Company A$.$ Round to the nearest percent.

b$.$ Compute the percent of annual net sales generated each quarter by Company B$.$ Round to the nearest percent.

First

QuarterSecond

QuarterThird

QuarterFourth

Quartera. Company A annual net sales percentb. Company B annual net sales percent

c$.$ Which company has the most seasonal business?