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RANDALL DEPARTMENT STORES, INC. Income Statement Compared with Industry Average Year Ended December 31, 2018 RANDALL DEPARTMENT STORES, INC. Balarce Sheet Compared with Industry Average December 31, 2018 Industry Average Industry Randall Average 70.9% Randall Net Sales Revenue $ 783,000 100.0% Cost of Goods Sold Current Assets S 310,040 527,742 65.8 Property, Plant, and Equipment, Net Intangible Assets, Net 119,600 23.6 Gross Profit 255,258 34.2 7,360 0.0 Operating Expenses 163,647 19.7 Other Assets 23,000 4.7 Operating Income 91,611 14.5 Total Assets $ 460,000 100.0% Other Expenses 6,264 0.4 Net Income S 85,347 14.1% Current Liablities $ 210,680 48.1% Long-term Liabilities 16.6 103,960 Total Liabilities 314,640 64.7 Stockholders' Equity 145,360 353 Total Liabilities and Stockholders' Equity S 460,000 100.0%

RANDALL DEPARTMENT STORES, INC. Income Statement Compared with Industry Average Year Ended December 31, 2018 RANDALL DEPARTMENT STORES, INC. Balarce Sheet Compared with Industry Average December 31, 2018 Industry Average Industry Randall Average 70.9% Randall Net Sales Revenue $ 783,000 100.0% Cost of Goods Sold Current Assets S 310,040 527,742 65.8 Property, Plant, and Equipment, Net Intangible Assets, Net 119,600 23.6 Gross Profit 255,258 34.2 7,360 0.0 Operating Expenses 163,647 19.7 Other Assets 23,000 4.7 Operating Income 91,611 14.5 Total Assets $ 460,000 100.0% Other Expenses 6,264 0.4 Net Income S 85,347 14.1% Current Liablities $ 210,680 48.1% Long-term Liabilities 16.6 103,960 Total Liabilities 314,640 64.7 Stockholders' Equity 145,360 353 Total Liabilities and Stockholders' Equity S 460,000 100.0%

Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter5: Inventories And Cost Of Goods Sold
Section: Chapter Questions
Problem 5.26MCE
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Performing vertical analysis

The Randall Department Stores, Inc. chief executive officer (CEO) has asked you to compare the company’s profit performance and financial position with the averages for the industry. The CEO has given you the company’s income statement and sheet as well as the industry average data for retailers.

Requirements

  1. Prepare a vertical analysis for Randall for both its income statement and balance sheet.
  2. 2 Compare the company’s profit performance and financial position with the average for the industry.
RANDALL DEPARTMENT STORES, INC. Income Statement Compared with Industry Average Year Ended December 31, 2018 RANDALL DEPARTMENT STORES, INC. Balarce Sheet Compared with Industry Average December 31, 2018 Industry Average Industry Randall Average 70.9% Randall Net Sales Revenue $ 783,000 100.0% Cost of Goods Sold Current Assets S 310,040 527,742 65.8 Property, Plant, and Equipment, Net Intangible Assets, Net 119,600 23.6 Gross Profit 255,258 34.2 7,360 0.0 Operating Expenses 163,647 19.7 Other Assets 23,000 4.7 Operating Income 91,611 14.5 Total Assets $ 460,000 100.0% Other Expenses 6,264 0.4 Net Income S 85,347 14.1% Current Liablities $ 210,680 48.1% Long-term Liabilities 16.6 103,960 Total Liabilities 314,640 64.7 Stockholders' Equity 145,360 353 Total Liabilities and Stockholders' Equity S 460,000 100.0%
Transcribed Image Text:RANDALL DEPARTMENT STORES, INC. Income Statement Compared with Industry Average Year Ended December 31, 2018 RANDALL DEPARTMENT STORES, INC. Balarce Sheet Compared with Industry Average December 31, 2018 Industry Average Industry Randall Average 70.9% Randall Net Sales Revenue $ 783,000 100.0% Cost of Goods Sold Current Assets S 310,040 527,742 65.8 Property, Plant, and Equipment, Net Intangible Assets, Net 119,600 23.6 Gross Profit 255,258 34.2 7,360 0.0 Operating Expenses 163,647 19.7 Other Assets 23,000 4.7 Operating Income 91,611 14.5 Total Assets $ 460,000 100.0% Other Expenses 6,264 0.4 Net Income S 85,347 14.1% Current Liablities $ 210,680 48.1% Long-term Liabilities 16.6 103,960 Total Liabilities 314,640 64.7 Stockholders' Equity 145,360 353 Total Liabilities and Stockholders' Equity S 460,000 100.0%
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