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Current Attempt in Progress Gallivan, Inc., and Tucker Ltd. are both food service distributors. As their adapted income statements (in $ millions) show, Gallivan's sales
Current Attempt in Progress Gallivan, Inc., and Tucker Ltd. are both food service distributors. As their adapted income statements (in $ millions) show, Gallivan's sales revenue was more than double that of Tucker. Tucker Gallivan Sales $6,630.5 $14,807.2 Cost of goods sold 4,252.2 10.109.3 Gross profit 2,378.3 4,697.9 Selling, general, & administrative expenses 1,596.2 3,207.1 Net operating income 782.1 1,490.8 Other expense 2.6 265.5 Income before taxes 779.5 1,225.3 Income tax expense 291.2 458.6 $ Net income $488.3 $766.7 (b) Which company did the better job of managing expenses? How did you reach your conclusion? , T? T: IIT 99 1 TT- O Word(s)
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