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K -Chapter 36 Saved Exercise 3-18 Using common size statements and ratlos to make comparisons LO...

Question:

k -Chapter 36 Saved Exercise 3-18 Using common size statements and ratlos to make comparisons LO 3-5 At the end of 2018 the following information is available for Billings and Phoneix companies Billings Phoneix 53,000,e00 $3,00e Cost of goods sold 1,80,e00 2,100 780 3,758,880 3,758 Stockholders equity 1,8e0,8e0 1,200 Sales Operating expenses Total assets 960,800 Required a. Prepare common size income statements for each company b. One company is a high-end retailer. and the other operates a discount store. Which is the discounter? Complete this question by entering your answers in the tabs below. Required ARequired B Prepare common size income statements for each company BILLINGS AND PHONEIX COMPANIES Common Size Income Statements
Total assets Stockholders equity 1,eee,8e0 1,200 3,758,800 3,75e Required . Prepare common size income statements for each company. b. One company is a high-end retailer, and the other operates a discount store. Which is the discounter? Book Complete this question by entering your answers in the tabs below Hint Required A RequiredB Ask Prepare common size income statements for each company. BILLINGS AND PHONEIX COMPANIES For the Year Ended 2018 Billings % Phoneix % Required B
At the end of 2018 the following information is available for Bilfings and Phoneix companies Sales Cost of goods sold 1,8ее,оее 2,100 Operating expenses Total assets Stockholders equity 1,e08,800 1,200 $3,800,800 $3,880 5 its 966,896 788 3,750,800 3,75e eBook Required Prepare common size income statements for each company b. One company is a high-end retailer, and the other operates a discount store. Which is the discounter? Hint Ask Complete this question by entering your answers in the tabs below. Required A Required B One company is a highrend reailer, and the ather operates a discount tore mhich a the discunter? Required A
k -Chapter 36 Saved Exercise 3-18 Using common size statements and ratlos to make comparisons LO 3-5 At the end of 2018 the following information is available for Billings and Phoneix companies Billings Phoneix 53,000,e00 $3,00e Cost of goods sold 1,80,e00 2,100 780 3,758,880 3,758 Stockholders' equity 1,8e0,8e0 1,200 Sales Operating expenses Total assets 960,800 Required a. Prepare common size income statements for each company b. One company is a high-end retailer. and the other operates a discount store. Which is the discounter? Complete this question by entering your answers in the tabs below. Required ARequired B Prepare common size income statements for each company BILLINGS AND PHONEIX COMPANIES Common Size Income Statements
Total assets Stockholders equity 1,eee,8e0 1,200 3,758,800 3,75e Required . Prepare common size income statements for each company. b. One company is a high-end retailer, and the other operates a discount store. Which is the discounter? Book Complete this question by entering your answers in the tabs below Hint Required A RequiredB Ask Prepare common size income statements for each company. BILLINGS AND PHONEIX COMPANIES For the Year Ended 2018 Billings % Phoneix % Required B
At the end of 2018 the following information is available for Bilfings and Phoneix companies Sales Cost of goods sold 1,8ее,оее 2,100 Operating expenses Total assets Stockholders' equity 1,e08,800 1,200 $3,800,800 $3,880 5 its 966,896 788 3,750,800 3,75e eBook Required Prepare common size income statements for each company b. One company is a high-end retailer, and the other operates a discount store. Which is the discounter? Hint Ask Complete this question by entering your answers in the tabs below. Required A Required B One company is a highrend reailer, and the ather operates a discount tore mhich a the discunter? Required A

Answers

Required (a) common size income statement billing phoneix % sales cost of good sold gross margin operating expenses net income 3,000,000 100% 3,000 100% 70% 900 30% 780 26% 120 4% 60% 40% 32% 8% 2,100 1,800,000 1,200,000 960,000 240,000 EXPLANATION common size percents(line item /sales)*100% for ex: 1800000/ 3000000) * 100% Required (b) which company is a discounter A phoneix company is a discounter because its cost of good sold is a higher percentage of sales as compared to billing. A discounter discount its selling price is going to be closer to cost, making cost of good sold a bigger percentage of sales

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