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 Quarter	Second Quarter	Third Quarter	Fourth Quarter	Year
Company A
Net sales	$186,111	$177,537	$203,070	$213,608	$780,326
Gross profit	55,457	53,643	64,024	69,374	242,498
Company B
Net sales	$84,896	$83,796	$142,137	$235,336	$546,165
Gross profit	53,900	52,983	66,018	104,961	277,862

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 Quarter	Second Quarter	Third Quarter	Fourth Quarter
a. Company A annual net sales percent
b. Company B annual net sales percent

c. Which company has the most seasonal business? Company A or Company B d. Which Company is Gibson Greetings? Company A or Company B Which Company is Hon Industries, Inc.? Company A or Company B e. Which company's interim quarterly data are probably most useful for predicting annual results?

Company A or Company B