Homework Help is Here – Start Your Trial Now!
Business
Accounting
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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

5

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 % % % %
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 % % % %
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Income Statement Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS