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Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill's data are expressed in dollars. The electronics industry averages, are expressed in percentages. Electronics Industry Average Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Operating income Other revenue and expense: Other revenue Other expense Income before income tax expense Income tax expense Net income Line Item Description Sales Cost of goods sold Gross profit Selling expenses Tannenhill Company $4,000,000 (2,120,000) $1,880,000 $(1,080,000) (640,000) $(1,720,000) $160,000 Common-Sized Income Statement For the Year Ended December 31 Administrative expenses Total operating expenses 120,000 (80,000) $200,000 (80,000) $120,000 3460.000 a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. Round your answers to the nearest whole percentage. Tannenhill Company % % % 100% (60) % 40% (24)% (14) (38)% 2% Tannenhill Tannenhill Electronics Company Company Industry Percent Average Amount $4,000,000 (2,120,000) $1,880,000 $(1,080,000) (640,000) $(1,720,000) 3 (2) (60) (2) 3% 1% 100% 40% (24)% (14) (38) %

Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill's data are expressed in dollars. The electronics industry averages, are expressed in percentages. Electronics Industry Average Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Operating income Other revenue and expense: Other revenue Other expense Income before income tax expense Income tax expense Net income Line Item Description Sales Cost of goods sold Gross profit Selling expenses Tannenhill Company $4,000,000 (2,120,000) $1,880,000 $(1,080,000) (640,000) $(1,720,000) $160,000 Common-Sized Income Statement For the Year Ended December 31 Administrative expenses Total operating expenses 120,000 (80,000) $200,000 (80,000) $120,000 3460.000 a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. Round your answers to the nearest whole percentage. Tannenhill Company % % % 100% (60) % 40% (24)% (14) (38)% 2% Tannenhill Tannenhill Electronics Company Company Industry Percent Average Amount $4,000,000 (2,120,000) $1,880,000 $(1,080,000) (640,000) $(1,720,000) 3 (2) (60) (2) 3% 1% 100% 40% (24)% (14) (38) %

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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Chap. 14 Q.1
History Bookmarks Profiles Tab Window Help he teach X + agenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress=false World History: Cul... P Sp23 Math 1080-... eBook Sales Cost of goods sold Gross profit Selling expenses Common-sized income statement Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill's data are expressed in dollars. The electronics industry averages, are expressed in percentages. Electronics Industry Average Administrative expenses Total operating expenses Operating income Other revenue and expense: Other revenue Other expense Income before income tax expense. Income tax expense Net income Show Me How Line Item Description Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Course Home Tannenhill Company $4,000,000 ACAD (2,120,000) $1,880,000 $(1,080,000) (640,000) $(1,720,000) $160,000 120,000 (80,000) $200,000 (80,000) $120,000 a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. Round your answers to the nearest whole percentage. Tannenhill Company Common-Sized Income Statement For the Year Ended December 31 % % 100% (60) % 40% (24)% (14) (38)% 2% Tannenhill Tannenhill Electronics Company Company Industry Percent Average Amount $4,000,000 (2,120,000) $1,880,000 $(1,080,000) (640,000) $(1,720,000) % Inc 3 (2) 3% (2) 1% 100% (60) 40% (24)% (14) (38)% k U₁ Ne
Transcribed Image Text:History Bookmarks Profiles Tab Window Help he teach X + agenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress=false World History: Cul... P Sp23 Math 1080-... eBook Sales Cost of goods sold Gross profit Selling expenses Common-sized income statement Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill's data are expressed in dollars. The electronics industry averages, are expressed in percentages. Electronics Industry Average Administrative expenses Total operating expenses Operating income Other revenue and expense: Other revenue Other expense Income before income tax expense. Income tax expense Net income Show Me How Line Item Description Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Course Home Tannenhill Company $4,000,000 ACAD (2,120,000) $1,880,000 $(1,080,000) (640,000) $(1,720,000) $160,000 120,000 (80,000) $200,000 (80,000) $120,000 a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. Round your answers to the nearest whole percentage. Tannenhill Company Common-Sized Income Statement For the Year Ended December 31 % % 100% (60) % 40% (24)% (14) (38)% 2% Tannenhill Tannenhill Electronics Company Company Industry Percent Average Amount $4,000,000 (2,120,000) $1,880,000 $(1,080,000) (640,000) $(1,720,000) % Inc 3 (2) 3% (2) 1% 100% (60) 40% (24)% (14) (38)% k U₁ Ne
genow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress=false 3 World History: Cul... P Sp23 Math 1080-... eBook Administrative expenses Total operating expenses Operating income Other revenue and expense: Other revenue Other expense Income before income tax expense Income tax expense Net income Line Item Description Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Operating income Other revenue and expense: a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. Round your answers to the nearest whole percentage. Tannenhill Company Other revenue Other expense Income before income tax expense Income tax expense Net income Show Me How Common-Sized Income Statement For the Year Ended December 31 Feedback $160,000 (640,000) $(1,720,000) $160,000 120,000 (80,000) Course Home 120,000 (80,000) $200,000 (80,000) $120,000 $200,000 (80,000) $120,000 Tannenhill Tannenhill Electronics Company Company Industry Amount Percent Average $4,000,000 (2,120,000) $1,880,000 $(1,080,000) (640,000) $(1,720,000) % % % % % % (14) (38)% 2% 100% (60) 40% 3 (2) 3% (2) 1% (24)% (14) (38)% 2% 3% (2) 3% (2) 1%
Transcribed Image Text:genow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress=false 3 World History: Cul... P Sp23 Math 1080-... eBook Administrative expenses Total operating expenses Operating income Other revenue and expense: Other revenue Other expense Income before income tax expense Income tax expense Net income Line Item Description Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Operating income Other revenue and expense: a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. Round your answers to the nearest whole percentage. Tannenhill Company Other revenue Other expense Income before income tax expense Income tax expense Net income Show Me How Common-Sized Income Statement For the Year Ended December 31 Feedback $160,000 (640,000) $(1,720,000) $160,000 120,000 (80,000) Course Home 120,000 (80,000) $200,000 (80,000) $120,000 $200,000 (80,000) $120,000 Tannenhill Tannenhill Electronics Company Company Industry Amount Percent Average $4,000,000 (2,120,000) $1,880,000 $(1,080,000) (640,000) $(1,720,000) % % % % % % (14) (38)% 2% 100% (60) 40% 3 (2) 3% (2) 1% (24)% (14) (38)% 2% 3% (2) 3% (2) 1%
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