The Klein Department Stores, Inc. chief executive officer (CEO) has asked you to compare the company's...
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The Klein Department Stores, Inc. chief executive officer (CEO) has asked you to compare the company's profit performance and financial position with the averages for the industry. The CEO has given you the company's income statement and balance sheet as well as the industry average data for retailers. (Click the icon to view the income statement.) Read the requirements. (Click the icon to view the balance sheet.) Requirement 1. Prepare a vertical analysis for Klein for both its income statement and balance sheet. Begin by preparing a vertical analysis for Klein for its income statement. (Round the percent of total amounts to one decimal place, X.X, and do not enter the %. For example, enter 10.1% as 10.1.) Klein Department Stores, Inc. Income Statement Year Ended December 31, 2024 Amount Percent of Total Net Sales Revenue $ 778,000 % 524,372 Cost of Goods Sold % Gross Profit 253,628 % 159,490 Operating Expenses % Operating Income 94,138 % 6,224 Other Expenses % $ 87,914 Net Income % culator K you to my s pront given you the company's income statement and balance sheet as well as the industry average data for retailers (Click the icon to view the income statement.) (Click the icon to view are the and nancial on with the av TOT - - ☑ Data table Data table Klein Department Stores, Inc. Klein Department Stores, Inc. Balance Sheet Compared with Industry Average stat Income Statement Compared with Industry Average Year Ended December 31, 2024 December 31, 2024 [Rd ple, e Klein Industry Average Klein Industry Average Current Assets 339,000 70.9% Net Sales Revenue $ 778,000 100.0 % Property, Plant, and Equipment, Net 130,000 23.6 524,372 65.8 Cost of Goods Sold Intangible Assets, Net 7,000 0.8 24,000 4.7 Gross Profit 253,628 34.2 Other Assets 159,490 19.7 500,000 100.0 % Operating Expenses Total Assets Operating Income 94,138 14.5 6,224 0.4 Other Expenses Current Liabilities 232,000 48.1 % $ 87,914 14.1 % Net Income Long-term Liabilities 111,000 16.6 Total Liabilities 343,000 64.7 157,000 35.3 Stockholders' Equity $ 500,000 100.0 % Print Done Total Liabilities and Stockholders' Equity Print Done The Klein Department Stores, Inc. chief executive officer (CEO) has asked you to compare the company's profit performance and financial position with the averages for the industry. The CEO has given you the company's income statement and balance sheet as well as the industry average data for retailers. (Click the icon to view the income statement.) Read the requirements. (Click the icon to view the balance sheet.) Requirement 1. Prepare a vertical analysis for Klein for both its income statement and balance sheet. Begin by preparing a vertical analysis for Klein for its income statement. (Round the percent of total amounts to one decimal place, X.X, and do not enter the %. For example, enter 10.1% as 10.1.) Klein Department Stores, Inc. Income Statement Year Ended December 31, 2024 Amount Percent of Total Net Sales Revenue $ 778,000 % 524,372 Cost of Goods Sold % Gross Profit 253,628 % 159,490 Operating Expenses % Operating Income 94,138 % 6,224 Other Expenses % $ 87,914 Net Income % culator K you to my s pront given you the company's income statement and balance sheet as well as the industry average data for retailers (Click the icon to view the income statement.) (Click the icon to view are the and nancial on with the av TOT - - ☑ Data table Data table Klein Department Stores, Inc. Klein Department Stores, Inc. Balance Sheet Compared with Industry Average stat Income Statement Compared with Industry Average Year Ended December 31, 2024 December 31, 2024 [Rd ple, e Klein Industry Average Klein Industry Average Current Assets 339,000 70.9% Net Sales Revenue $ 778,000 100.0 % Property, Plant, and Equipment, Net 130,000 23.6 524,372 65.8 Cost of Goods Sold Intangible Assets, Net 7,000 0.8 24,000 4.7 Gross Profit 253,628 34.2 Other Assets 159,490 19.7 500,000 100.0 % Operating Expenses Total Assets Operating Income 94,138 14.5 6,224 0.4 Other Expenses Current Liabilities 232,000 48.1 % $ 87,914 14.1 % Net Income Long-term Liabilities 111,000 16.6 Total Liabilities 343,000 64.7 157,000 35.3 Stockholders' Equity $ 500,000 100.0 % Print Done Total Liabilities and Stockholders' Equity Print Done
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Part 1 CommonSize Income Statement Klein Department Stores Inc CommonSize Income Statement Year Ended December 31 2024 Copy Klein Industry Average Net ... View the full answer
Related Book For
Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780134486840
6th Edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
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