= Homework: Chapter 14 HW 22 LO 3-4 (Copy) Data table Data table Klein Department Stores' chief executive officer (CEO) has asked you to compare the company's pro as the industry average data for retailers. (Click the icon to view the income statement. (Click the icon to view the balance sheet.) A B B C Read the requirements 1 Klein Department Stores, Inc. Balance Sheet Compared with Industry Average 1 2 Klein Department Stores, Inc. Income Statement Compared with Industry Average 2 3 As of December 31 3 4 (amounts in thousands) 4. Industry Average Klein (%) For the Year Ended December 31 (amounts in thousands) Industry Klein Average Industry Average 5 Klein 5 Assets 6 Assets 6 Sales revenues $ 786,000 100.0% Current assets % 70.8% 7 Current assets $ 290,680 70.8% 7 Less: Cost of goods sold 532,122 65.6% % 23.9% 8 Fixed assets, net 109,220 23.9% Fixed assets, net Intangible assets, net 8 Gross profit $ 253,878 34.4% % 0.7% 9 Intangible assets, net 7,310 0.7% 9 Less: Operating expenses 164,274 19.5% Other assets 22,790 4.6% x 10 Operating income $ 89,604 14.9% quirements Total assets $ 430,000 100.0% 11 Less: Interest expense 1,179 0.2% Liabilities 12 Income before income taxes $ 88,425 14.7% Current liabilities $ 197,800 48.0% 13 Less: Income tax expense 3,537 0.4% Long-term liabilities 97,180 16.7% 14 Net income $ 84,888 14.3% Prepare a common-size income statement and balance sheet for Klein Department Stores. The first column of each statement should present Klein Department Stores' common-size statement, while the second column should present the industry averages. For the profitability analysis, compute Klein Department Stores' (a) ratio of gross profit to sales, (b) ratio of operating income to sales, and (c) ratio of net income to sales. Compare these figures with the ndustry averages. Is Klein Department Stores' profit performance better or worse than the industry average? For the analysis of financial position, compute Klein Department Stores' (a) ratio of current assets to total assets and (b) ratio of stockholders' equity to total assets. Compare these ratios with the industry averages. Is Klein Department Stores' financial position better or worse than the industry averages? Print Done Print Done Clear all Check answer Print Done = Homework: Chapter 14 HW 22 LO 3-4 (Copy) Question 2, P14-41A (similar to) Part 2 of 4 > HW Score: 59.42%, 1.78 of 3 points Points: 0.78 of 2 Save ny's income statement and balance sheet, as well Klein Department Stores' chief executive officer (CEO) has asked you to compare the company's profit perfor as the industry average data for retailers. (Click the icon to view the income statement.) E. (Click the icon to view the balance sheet.) - X Data table Read the requirements B 1 2 Klein Department Stores, Inc. Balance Sheet Compared with Industry Average As of December 31 Industry Average Klein (%) 3 Assets 4 (amounts in thousands) Current assets % 70.8% Industry Average 5 Klein % 23.9% Fixed assets, net Intangible assets, net 6 Assets % 0.7% 7 Current assets $ 290,680 70.8% 4.6% Other assets % 8 Fixed assets, net 109,220 23.9% 100.0% Total assets % 9 Intangible assets, net 7,310 0.7% Liabilities 10 Other assets 22,790 4.6% Current liabilities % 48.0% 11 Total assets $ 430,000 100.0% 16.7% Long-term liabilities % 12 Liabilities % 64.7% Total liabilities Stockholders' equity 13 Current liabilities $ 197,800 48.0% 14 Long-term liabilities 97,180 16.7% 35.3% Total common stockholders' equity % 100.0% Total liabilities and equity Print Done Help me solve this Video Get more help Clear all Check
