The McConnell Department Stores, Inc. chief executive officer (CEO) has asked you to compare the company's profit

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The McConnell 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:
The McConnell Department Stores, Inc. chief executive officer (CEO) has

Required
1. Prepare a vertical analysis for McConnell for both its income statement and balance sheet.
2. Compare the company's gross margin and profit margin ratios with the average for the industry. Comment on their investment in assets as well as their debt to assets compared to the industry information shown.

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Horngrens Accounting

ISBN: 978-0133855388

10th Canadian edition Volume 2

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood

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