mpetitors Following are selected income statement and balance sheet data from two retailers: Abercrombie & Fitch (clothing retailer in the high-end market) and TIX Companies (clothing retailer in the value-priced market). (a) Express each income statement amount as a percentage of sales. Round your answers to one decimal place (ex: 0.2345=23.5%). Income Statement ANF $5,360 (5 millions) Sales Cost of goods sold 1,808 Gross profit 3,552 Total expenses 2,635 Net income $917 ($ millions) Current assets Long-term assets Total assets Current liabilities Long-term liabilities Total liabilities 1,637 $2,637 $513 **** 406 919 %6 Stockholders' equity 1,718 Total liabilities and equity $2,637 % % (b) Express each balance sheet amount as a percentage of total assets. Round your answers to one decimal place (ex: 0.2345 = 23.5%). Balance Sheet ANF $1,000 TJX $22,106 17,713 4,393 3,495 $ 898 TIX % $3,929 % 2,608 $6,537 % $2,698 **** 96 1,708 * * * * 4,406 2,131 $6,537 % % 96 % %6 % 96 96
mpetitors Following are selected income statement and balance sheet data from two retailers: Abercrombie & Fitch (clothing retailer in the high-end market) and TIX Companies (clothing retailer in the value-priced market). (a) Express each income statement amount as a percentage of sales. Round your answers to one decimal place (ex: 0.2345=23.5%). Income Statement ANF $5,360 (5 millions) Sales Cost of goods sold 1,808 Gross profit 3,552 Total expenses 2,635 Net income $917 ($ millions) Current assets Long-term assets Total assets Current liabilities Long-term liabilities Total liabilities 1,637 $2,637 $513 **** 406 919 %6 Stockholders' equity 1,718 Total liabilities and equity $2,637 % % (b) Express each balance sheet amount as a percentage of total assets. Round your answers to one decimal place (ex: 0.2345 = 23.5%). Balance Sheet ANF $1,000 TJX $22,106 17,713 4,393 3,495 $ 898 TIX % $3,929 % 2,608 $6,537 % $2,698 **** 96 1,708 * * * * 4,406 2,131 $6,537 % % 96 % %6 % 96 96
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
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![Comparing Income Statements and Balance Sheets of Competitors
Following are selected income statement and balance sheet data from two retailers: Abercrombie & Fitch (clothing retailer in the high-end market) and TJX Companies (clothing retailer in the value-priced market).
(a) Express each income statement amount as a percentage of sales.
Round your answers to one decimal place (ex: 0.2345 = 23.5%).
Income Statement
ANF
$5,360
($ millions)
Sales
Cost of goods sold
Gross profit
Total expenses
Net income
1,808
3,552
2,635
$917
($ millions)
Current assets
Long-term assets
Total assets
Current liabilities
Long-term liabilities
Total liabilities
%
%
%
TJX
$22,106
17,713
4,393
3,495
% $898
(b) Express each balance sheet amount as a percentage of total assets.
Round your answers to one decimal place (ex: 0.2345 = 23.5%).
Balance Sheet
ANF
$1,000
1,637
$2,637
$513
406
919
Stockholders' equity
1,718
Total liabilities and equity $2,637
%
TJX
% $3,929
% 2,608
$6,537
% $2,698
% 1,708
% 4,406
% 2,131
$6,537
%
%
%
%
%
NSACTIONS
%
%
%
%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F942ab3b9-b44c-42eb-adec-dc1e65657c01%2F5c89c317-c36c-4007-b2ee-a3aa6e66fe0e%2Fsp26m8d_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Comparing Income Statements and Balance Sheets of Competitors
Following are selected income statement and balance sheet data from two retailers: Abercrombie & Fitch (clothing retailer in the high-end market) and TJX Companies (clothing retailer in the value-priced market).
(a) Express each income statement amount as a percentage of sales.
Round your answers to one decimal place (ex: 0.2345 = 23.5%).
Income Statement
ANF
$5,360
($ millions)
Sales
Cost of goods sold
Gross profit
Total expenses
Net income
1,808
3,552
2,635
$917
($ millions)
Current assets
Long-term assets
Total assets
Current liabilities
Long-term liabilities
Total liabilities
%
%
%
TJX
$22,106
17,713
4,393
3,495
% $898
(b) Express each balance sheet amount as a percentage of total assets.
Round your answers to one decimal place (ex: 0.2345 = 23.5%).
Balance Sheet
ANF
$1,000
1,637
$2,637
$513
406
919
Stockholders' equity
1,718
Total liabilities and equity $2,637
%
TJX
% $3,929
% 2,608
$6,537
% $2,698
% 1,708
% 4,406
% 2,131
$6,537
%
%
%
%
%
NSACTIONS
%
%
%
%
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