The president is also concerned that administrative

Assignment Help Accounting Basics

Reference no: EM13572834

A comparative income statement is given below for Ryder Company:

Ryder Company Comparative Income Statement
	This Year		Last Year
Sales	$	7,340,000	$	5,505,000
Cost of goods sold		4,990,900		3,515,000

Gross margin		2,349,100		1,990,000

Selling and administrative expenses:
Selling expenses		1,475,000		1,072,500
Administrative expenses		705,000		610,500

Total selling and administrative expenses		2,180,000		1,683,000

Net operating income		169,100		307,000
Interest expense		104,000		85,000

Net income before taxes	$	65,100	$	222,000

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: EM13572834

Previous Q& A

As the accountant for runson moving company you are

as the accountant for runson moving company you are preparing the companys annual return form 940 and schedule a. use

What is the net cost of the spectrometer that is what is

you have been asked by the president of your company to evaluate the proposed acquisition of a new spectrometer for the

The campbell company is evaluating the proposed acquisition

the campbell company is evaluating the proposed acquisition of a new milling machine. the machines base price is 108000

During the year dempsey corporations current ratio

during the year dempsey corporations current ratio increased while its quick ratio decreased. which of the following

A company is offering a bonus plan to its employees the

a company is offering a bonus plan to its employees. the company will set aside 1 of sales as a bonus. the first year

Nixon communications is trying to estimate the first-year

nixon communications is trying to estimate the first-year operating cash flow at t 1 for a proposed project. the

Rojas co owned 7000 shares 70 of the outstanding 10 100 par

rojas co. owned 7000 shares 70 of the outstanding 10 100 par preferred stock and 60 of the outstanding common stock of

Dilly llc wants to make a profit of 30000 it has variable

dilly llc wants to make a profit of 30000. it has variable costs of 99 per unit and fixed costs of 20000. how much must

Writing an outline for argumentative essay and then write

writing an outline for argumentative essay and then write an essay the topic is about the death penalty and society. i

Shao industries is considering a proposed project for its

shao industries is considering a proposed project for its capital budget. the company estimates that the projects npv

Reviews

Write a Review

Message

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

User Account

All Pages