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1. Complete the below grid. Submit your answers in a grid/table. Net Sales Cost of goods sold Gross margin- dollars Gross margin- percent Expenses-dollars Expenses-percent Net income-dollars Net income-percent Store 1 $12.0 $5.9 $4.2 Store 2 $42.6 $38.1 $6.2 Store 3 $155.0 $88.2 $7.6 Dollars expressed in millions. Store 4 Store 5 $951.2 $90.0 $487.6 $41.1 Store 6 $4,056.7 $2,387.2 $22.7 $0.5 $128.5 2. Review the component percentages for each store in problem 2 above. Which store is the best performer? The poorest performer? What advice would you give to the poorest performer relative to improving performance? Suggest how to increase net income by increasing gross margin and/or decreasing expenses by specific dollar amounts.

1. Complete the below grid. Submit your answers in a grid/table. Net Sales Cost of goods sold Gross margin- dollars Gross margin- percent Expenses-dollars Expenses-percent Net income-dollars Net income-percent Store 1 $12.0 $5.9 $4.2 Store 2 $42.6 $38.1 $6.2 Store 3 $155.0 $88.2 $7.6 Dollars expressed in millions. Store 4 Store 5 $951.2 $90.0 $487.6 $41.1 Store 6 $4,056.7 $2,387.2 $22.7 $0.5 $128.5 2. Review the component percentages for each store in problem 2 above. Which store is the best performer? The poorest performer? What advice would you give to the poorest performer relative to improving performance? Suggest how to increase net income by increasing gross margin and/or decreasing expenses by specific dollar amounts.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. Complete the below grid. Submit your answers in a grid/table. Net Sales Cost of goods sold Gross margin- dollars Gross margin- percent Expenses-dollars Expenses-percent Net income-dollars Net income-percent Store 1 $12.0 $5.9 $4.2 Store 2 $42.6 $38.1 $6.2 Store 3 $155.0 $88.2 $7.6 Dollars expressed in millions. Store 4 Store 5 $951.2 $90.0 $487.6 $41.1 Store 6 $4,056.7 $2,387.2 $22.7 $0.5 $128.5 2. Review the component percentages for each store in problem 2 above. Which store is the best performer? The poorest performer? What advice would you give to the poorest performer relative to improving performance? Suggest how to increase net income by increasing gross margin and/or decreasing expenses by specific dollar amounts.
Transcribed Image Text:1. Complete the below grid. Submit your answers in a grid/table. Net Sales Cost of goods sold Gross margin- dollars Gross margin- percent Expenses-dollars Expenses-percent Net income-dollars Net income-percent Store 1 $12.0 $5.9 $4.2 Store 2 $42.6 $38.1 $6.2 Store 3 $155.0 $88.2 $7.6 Dollars expressed in millions. Store 4 Store 5 $951.2 $90.0 $487.6 $41.1 Store 6 $4,056.7 $2,387.2 $22.7 $0.5 $128.5 2. Review the component percentages for each store in problem 2 above. Which store is the best performer? The poorest performer? What advice would you give to the poorest performer relative to improving performance? Suggest how to increase net income by increasing gross margin and/or decreasing expenses by specific dollar amounts.
3. Complete the below grid. Submit your answers in a grid/table. Sales Turnover Average Inventory COGS Gross Margin- dollars Gross Margin- percent GMROI Department A Department B $1.5 7.2 $.7 3.5 $.4 $.6 Department C $78.0 4.5 $52.3 Department Department Department 12.0 $15.0 $41.3 E $32.5 $4.5 $12.9 F $45.2 $7.1 $15.8
Transcribed Image Text:3. Complete the below grid. Submit your answers in a grid/table. Sales Turnover Average Inventory COGS Gross Margin- dollars Gross Margin- percent GMROI Department A Department B $1.5 7.2 $.7 3.5 $.4 $.6 Department C $78.0 4.5 $52.3 Department Department Department 12.0 $15.0 $41.3 E $32.5 $4.5 $12.9 F $45.2 $7.1 $15.8
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