The Cullumber Supply Company reported the following information for 2017. Prepare a common-size income statement for the year ended June 30, 2017. (Round answers to 1 decimal place, e.g. 52.7%.) Cullumber Supply Company Income Statement for the Fiscal Year Ended June 30, 2017($ thousands) % of Net Sales Net sales $2,111,000 enter percentages of net sales % Cost of goods sold 1,464,000 enter percentages of net sales % Selling and administrative expenses 312,200 enter percentages of net sales % Nonrecurring expenses 27,600 enter percentages of net sales %
The Cullumber Supply Company reported the following information for 2017. Prepare a common-size income statement for the year ended June 30, 2017. (Round answers to 1 decimal place, e.g. 52.7%.) Cullumber Supply Company Income Statement for the Fiscal Year Ended June 30, 2017($ thousands) % of Net Sales Net sales $2,111,000 enter percentages of net sales % Cost of goods sold 1,464,000 enter percentages of net sales % Selling and administrative expenses 312,200 enter percentages of net sales % Nonrecurring expenses 27,600 enter percentages of net sales %
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 40E: Cuneo Companys income statements for the last 3 years are as follows: Refer to the information for...
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The Cullumber Supply Company reported the following information for 2017. Prepare a common-size income statement for the year ended June 30, 2017. (Round answers to 1 decimal place, e.g. 52.7%.)
Cullumber Supply Company Income Statement for the Fiscal Year Ended June 30, 2017($ thousands) |
|||||
---|---|---|---|---|---|
% of Net Sales | |||||
Net sales
|
$2,111,000 | enter percentages of net sales % | |||
Cost of goods sold
|
1,464,000 | enter percentages of net sales % | |||
Selling and administrative expenses
|
312,200 | enter percentages of net sales % | |||
Nonrecurring expenses
|
27,600 | enter percentages of net sales % | |||
Earnings before interest, taxes,
|
$307,200 | enter percentages of net sales % | |||
Depreciation
|
117,000 | enter percentages of net sales % | |||
Earnings before interest and taxes (EBIT)
|
190,200 | enter percentages of net sales % | |||
Interest expense
|
118,600 | enter percentages of net sales % | |||
Earnings before taxes (EBT)
|
$71,600 | enter percentages of net sales % | |||
Taxes (35%)
|
25,060 | enter percentages of net sales % | |||
Net income
|
$46,540 | enter percentages of net sales % |
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