Understanding real world annual reports Required Use the Topps Companys annual report in Appendix B to answer
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Understanding real world annual reports
Required
Use the Topps Company’s annual report in Appendix B to answer the following questions.
a. What was Topps’ gross margin percentage for 2006 and 2005?
b. What was Topps’ return on sales percentage for 2006 and 2005?
c. Topps’ Gross Profit on Sales was about $9 million lower in 2006 than in 2005 and this caused its Net Income to be lower as well. However, its gross margin percentage also decreased in 2006. Ignoring taxes, how much higher would its 2006 net income have been if the gross margin percentage in 2006 had been the same as for 2005?
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a Gross Profit Sales Gross Profit 2006 95784 293838 32...View the full answer
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