Presented are the income statements of Clyton and Garner heavy equipment manufacturing companies for the current year:ClytonGarnerNet sales revenue$487,000100.00%$500,000100.00%COGS400, 10082.16%395,00079.00%Gross Profit86,90017.84%105,00021.00%Selling/Gen ExpensesIncome from operations4.11%13.74%10.00%11.00%20,00050,00066,90017.10055,000Income tax expense3.51%16,500$38,5003.30%Net Income$49,80010.23%7,70%Which company has the better relationship percentage - wise between selling and general expenses compared to net sales revenue?A. Impossible to determineB. Both have the same relationshipOC. GarnerOD. Clyton

Common size financial statement means where every item of income statement is shown in percentage by…

Presented are the income statements of Clyton and Garner heavy equipment manufacturing companies for the current year: 重重重 Clyton $487,000 Garner Net sales revenue 100.00% $500,000 395,000 100.00% COGS 79.00% 400, 100 86,900 20,000 82.16% 17.84% Gross Profit 105,000 21.00% Selling/Gen Expenses Income from operations 4.11% 50,000 10.00% 11.00% 55,000 16.500 66,900 13.74% Income tax expense 17.100 $49,800 3.51% 10.23% 3.30% 7.70% Net Income $38,500 Which company has the better relationship percentage - wise between selling and general expenses compared to net sales revenue? O A. Impossible to determine O B. Both have the same relationship Oc. Gamer OD. Clyton

Presented are the income statements of Clyton and Garner heavy equipment manufacturing companies for the current year: 重重重 Clyton $487,000 Garner Net sales revenue 100.00% $500,000 395,000 100.00% COGS 79.00% 400, 100 86,900 20,000 82.16% 17.84% Gross Profit 105,000 21.00% Selling/Gen Expenses Income from operations 4.11% 50,000 10.00% 11.00% 55,000 16.500 66,900 13.74% Income tax expense 17.100 $49,800 3.51% 10.23% 3.30% 7.70% Net Income $38,500 Which company has the better relationship percentage - wise between selling and general expenses compared to net sales revenue? O A. Impossible to determine O B. Both have the same relationship Oc. Gamer OD. Clyton

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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