>> Accounting Basics
Problem - Shown below is information from the financial reports of Knauss Supermarkets for the past few years.
2016 2015 2014
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 million) $10.8 $11.0 $11.4
a. Calculate the following statistics for knauss supermarkets (round your answers to one decimal place):
1. the percentage change in net sales from 2014 to 2015 and 2015 to 2016. Hint: the percentage change is computed by dividing the dollar amount of the change between years by the amount of the base year. For example, the percentage change in net sales from 2014 to 2015 is computed by dividing the difference between 2014 to 2015 net sales by the amount of 2014 net sales, or ($5,184- $4,800)/$4,800=8% increase.
2. the percentage change in net sales per square foot of selling space from 2014 to 2015 and 2015 to 2016.
3. the percentage change in comparable store sales from 2014 to 2015 and 2015 to 2016.
b. Evaluate the sales performance of knauss supermarkets.