193. A company reports the following:
Net sales
$2,400,000
Average total assets
$1,500,000
Determine the ratio of net sales to total assets. Round your answer to one digit after the decimal place.
194. A company reports the following:
$2,520,000
$1,400,000
195. Why would you compare or not compare Coca-Cola and Pepsi-Cola (PepsiCo) as companies to each other?
196. Revenue and expense data for Tower Technologies are as follows:
2010
2009
Sales
$500,000
$440,000
Cost of goods sold
325,000
242,000
Selling expense
70,000
79,200
Administrative expenses
75,000
70,400
Income tax expense
25,000
26,400
Required:
(1)
Prepare an income statement in comparative form, stating each item for both 2010 and 2009 as a percent of sales. Round to one decimal place.
(2)
Comment on the significant changes disclosed by the comparative income statement.
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