The following table shows retail sales in drug stores in billions of dollars in the U.S. for years since 1995.Year Retail Sales085.8513108.4266141.7819169.25612202.29715222.266Let S(t) be the retails sales in billions of dollars in t years since 1995. A linear model for the data isF(t) 9.44t+84.182.220-210200190-180-170160-150-140-130-120110-10090-12804Use the above scatter plot to decide whether the linear model fits the data well.The function is a good model for the data.The function is not a good model for the dataEstimate the retails sales in the U. S. in 2011.billions of dollars.Use the model to predict the year in which retails sales will be $248 billion.

Step 1: Step 2: Step 3: Step 4:

Answered: The following table shows retail sales…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter18: The Management Of Accounts Receivable And Inventories

Section: Chapter Questions

Problem 1P

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Shown below is information from the financial reports of Knauss Supermarkets for the past fewyears. 2011 2010 2009Net sales (in millions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $5,495 $5,184 $4,800Number of stores . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 448 445 430Square feet of selling space (in millions) . . . . . . . . . . . . . . . . . . . 11.9 11.1 10.0Average net sales of comparable stores (in millions) . . . . . . . . . . $ 10.8 $ 11.0 $ 11.4Instructionsa. Calculate the following statistics for Knauss Supermarkets (round your answers to one decimalplace):1. The percentage change in net sales from 2009 to 2010 and 2010 to 2011. Hint: The percentagechange is computed by dividing the dollar amount of the change between yearsby the amount of the base year. For example, the percentage change in net sales from2009 to…
1. If last year's sales were $906,050 and a store was planning an increase in sales of 3.75% and a markdown percent of 18.25%, what is the planned markdown in dollars? (Present your answer rounded to the dollar with a dollar sign and comma separator (i.e. $109,455).) 2. Using the following data, calculate the planned April purchases at cost. (Present your answer rounded to the dollar with a dollar sign and comma separator (i.e. $109,455).) Sales $220,000 BOM Stock for April $380,000 BOM Stock for May $240,000 Markup 51% Markdowns 2.3%
Shown below is information from the financial reports of Knauss Supermarkets for the past few years. 2011 2010 2009 net sales (in millions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $5,495 $5,184 $4,800 Number of stores . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 448 445 430 Square feet of selling space (in millions) . . . . . . . . . . . . . . . . . . . 11.9 11.1 10.0 Average net sales of comparable stores (in millions) . . . . . . . . . . $10.8 $ 11.0 $ 11.4 PROBLEM 6.3A Trend Analysis Instructions a. Calculate the following statistics for Knauss Supermarkets (round your answers to one decimal place): 1. The percentage change in net sales from 2009 to 2010 and 2010 to 2011. Hint: The percentage change is computed by dividing the…
Our company is a manufacturer and has the following data available for the current year: sales, $550,000; sales discounts, $20,000; sales returns and allowances, $15,000; and cost of goods sold, $200,000. What is the amount reported on the income statement for net sales? $530,000 $515,000 $500,000 $330,000
Use the following selected information from Corolla to determine the Year 1 and Year 2 trend percentages for net sales using Year 1 as the base. Year 2 Year 1 Net sales $ 281,200 $ 232,400 Cost of goods sold 150,900 130,590 Operating expenses 54,240 52,240 Net earnings 29,020 20,820
Use the following selected information from Corolla to determine the Year 1 and Year 2 trend percentages for net sales using Year 1 as the base. Year 2 Year 1 Net sales $ 277,700 $ 231,700 Cost of goods sold 151,600 129,890 Operating expenses 54,940 52,940 Net earnings 28,320 20,120 Multiple Choice 116.7% for Year 2 and 100.0% for Year 1. 54.6% for Year 2 and 56.1% for Year 1. 36.2% for Year 2 and 40.8% for Year 1. 65.6% for Year 2 and 64.6% for Year 1. 119.9% for Year 2 and 100.0% for Year 1.
Costco is the largest chain of membership warehouse clubs in the world based on sales volume, and it is the fifth largest general retailer in the United States. Costco focuses on selling products at low prices, often at a very high volume. These goods are usually bulk-packaged and marketed primarily to large families and businesses. Costco became the first company to grow from zero to 3 billion in sales in less than six years. In a recent fiscal year, Costcos sales totaled 76.3 billion, a 29.3 percent increase from 2006, and its net income reached 1.30 billion, an 18.1 percent increase from 2006. This information, and much more, can be derived from the financial statements that merchandising firms such as Costco prepare on a regular basis to provide shareholders and other interested parties information about the companys activities and financial performance. 1. What type of information would a classified income statement provide to shareholders and other interested parties? 2. What type of information would a classified balance sheet provide to shareholders and other interested parties? Why would this information be important for calculating the working capital and the current ratio, for example?
For a recent year Best Buy (BBY) reported sales of $39,528 million. It's gross profit was $9,191 million. What was the amount of Best Buy's cost of goods sold?
Your company has sales of $97,200 this year and cost of goods sold of $71,200. You forecast sales to increase to $113,100 next year. Using the percent of sales method, forecast next year's cost of goods sold.
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. TannenhillCompany ElectronicsIndustryAverage Sales $4,000,000 100.0 % Cost of merchandise sold 2,120,000 60.0 Gross profit $1,880,000 40.0 % Selling expenses $1,080,000 24.0 % Administrative expenses 640,000 14.0 Total operating expenses $1,720,000 38.0 % Income from operations $160,000 2.0 % Other revenue and expense: Other revenue 120,000 3.0 Other expense (80,000) 2.0 Income before income tax expense $200,000 3.0 % Income tax expense 80,000 2.0 Net income $120,000 1.0 % a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. Enter all amounts as positive numbers.…

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