The president is also concerned that administrative

Reference no: EM13573257

A comparative income statement is given below for Ryder Company:

Ryder Company Comparative Income Statement
	This Year		Last Year
Sales	$	7,390,000	$	5,542,500
Cost of goods sold		4,990,700		3,508,500

Gross margin		2,399,300		2,034,000

Selling and administrative expenses:
Selling expenses		1,479,500		1,075,000
Administrative expenses		710,500		617,500

Total selling and administrative expenses		2,190,000		1,692,500

Net operating income		209,300		341,500
Interest expense		101,000		87,000

Net income before taxes	$	108,300	$	254,500

The president is concerned that net income is down even though sales have increased during the year. The president is also concerned that administrative expenses have increased because the company made a concerted effort to cut waste out of the organization.

Required:
1.	Express each year's income statement in common-size percentages. (Input all amounts as positive values. Round your answers to 1 decimal place. Due to rounding, figures may not fully reconcile down a column.)

Ryder Company Comparative Income Statement
	This Year	Last Year
Sales	%	%
Cost of goods sold	%	%

Gross margin	%	%

Selling and administrative expenses:
Selling expenses	%	%
Administrative expenses	%	%

Total selling and administrative expenses	%	%

Net operating income	%	%
Interest expense	%	%

Net income before taxes	%	%

Reference no: EM13573257

Questions Cloud

Today the market interest rate on these bonds has dropped : leggio corporation issued 20-year 7 annual coupon bonds at their par value of 1000 one year ago. today the market

Imagine yourself as an employee of a company doing business : imagine yourself as an employee of a company doing business in another country. consider some of the misperceptions

Which of the following items cannot be found on a firms : which of the following items cannot be found on a firms balance sheet under current liabilities?a. accounts payable.b.

The management of natural fragrance inc wishes to determine : natural fragrance inc. began operations on january 1 2012. the company produces a hand and body lotion in an

The president is also concerned that administrative : a comparative income statement is given below for ryder company ryder company comparative income statementthis year

Hayes inc has current assets of 7500 net fixed assets of : hayes inc has current assets of 7500 net fixed assets of 28900 current liabilities of 5900 and long term debt of 18700.

Reflecting on the effect of your education in philosophy so : 2 pages double spaced 12 pt. font with 1 inch marginsreflecting on the effect of your education in philosophy so far

A bond has a yield to maturity of 1211 percent an 115 : a bond has a yield to maturity of 12.11 percent an 11.5 percent annual coupon a 1000 face value and a maturity date 8

Compute the corporate income tax or tax refund in each year : abc company was founded in 20x1 and had the following taxable income through

User Account

All Pages

The president is also concerned that administrative

Reference no: EM13573257

Reference no: EM13573257

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT