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Ramirez Restaurant Group's is the corporation behind several popular restaurant chains. The following data were taken from its 2018 annual report. All dollar amounts are in millions. Total restaurant sales Cost of goods sold Net income Fiscal Years Ending December 30, 2018 $ 4,229 1,380 134 December 31, 2017 $4,337 1,401 127 Required a. Compute Ramirez Restaurant Group's gross margin percentage for 2018 and 2017. (Enter your answers as a percentage rounded to 1 decimal place (i.e., 0.123 should be entered as 12.3).) b. Compute Ramirez Restaurant Group's return-on-sales percentage for 2018 and 2017. (Enter your answers as a percentage rounded to 1 decimal place (i.e., 0.123 should be entered as 12.3).) c. Based on the percentages computed in Requirements a and b, did Ramirez Restaurant Group's performance get better or worse from 2017 to 2018?

Ramirez Restaurant Group's is the corporation behind several popular restaurant chains. The following data were taken from its 2018 annual report. All dollar amounts are in millions. Total restaurant sales Cost of goods sold Net income Fiscal Years Ending December 30, 2018 $ 4,229 1,380 134 December 31, 2017 $4,337 1,401 127 Required a. Compute Ramirez Restaurant Group's gross margin percentage for 2018 and 2017. (Enter your answers as a percentage rounded to 1 decimal place (i.e., 0.123 should be entered as 12.3).) b. Compute Ramirez Restaurant Group's return-on-sales percentage for 2018 and 2017. (Enter your answers as a percentage rounded to 1 decimal place (i.e., 0.123 should be entered as 12.3).) c. Based on the percentages computed in Requirements a and b, did Ramirez Restaurant Group's performance get better or worse from 2017 to 2018?

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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a. Gross margin percentage b. Return-on-sales percentage c. Did Ramirez Restaurant Group's performance get better or worse from 2017 to 2018? Prov 2018 % % 2017 % %
Transcribed Image Text:a. Gross margin percentage b. Return-on-sales percentage c. Did Ramirez Restaurant Group's performance get better or worse from 2017 to 2018? Prov 2018 % % 2017 % %
Ramirez Restaurant Group's is the corporation behind several popular restaurant chains. The following data were taken from its 2018 annual report. All dollar amounts are in millions. Total restaurant sales Cost of goods sold Net income Fiscal Years Ending December 30, 2018 $ 4,229 1,380 134 December 31, 2017 $ 4,337 1,401 127 Required a. Compute Ramirez Restaurant Group's gross margin percentage for 2018 and 2017. (Enter your answers as a percentage rounded to 1 decimal place (i.e., 0.123 should be entered as 12.3).) b. Compute Ramirez Restaurant Group's return-on-sales percentage for 2018 and 2017. (Enter your answers as a percentage rounded to 1 decimal place (i.e., 0.123 should be entered as 12.3).) c. Based on the percentages computed in Requirements a and b, did Ramirez Restaurant Group's performance get better or worse from 2017 to 2018?
Transcribed Image Text:Ramirez Restaurant Group's is the corporation behind several popular restaurant chains. The following data were taken from its 2018 annual report. All dollar amounts are in millions. Total restaurant sales Cost of goods sold Net income Fiscal Years Ending December 30, 2018 $ 4,229 1,380 134 December 31, 2017 $ 4,337 1,401 127 Required a. Compute Ramirez Restaurant Group's gross margin percentage for 2018 and 2017. (Enter your answers as a percentage rounded to 1 decimal place (i.e., 0.123 should be entered as 12.3).) b. Compute Ramirez Restaurant Group's return-on-sales percentage for 2018 and 2017. (Enter your answers as a percentage rounded to 1 decimal place (i.e., 0.123 should be entered as 12.3).) c. Based on the percentages computed in Requirements a and b, did Ramirez Restaurant Group's performance get better or worse from 2017 to 2018?
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