Question Help The Rim Department Stores, Inc. chief executive officer (CEO) has asked you to compare the company's profit performance and financial position with the averages for son eText the industry. The CEO has given you the company's income statement and balance sheet as well as the industry average data for retailers. (Click the icon to view the income statement) Click the loon to view the balance sheet) media Read the requirements ter Resol Requirement 1. Prepare a common size income statement and balance sheet for Rom. The first column of each statement should present Rim's common size statement, and the second column, the industry averages mic Stud ales Begin by preparing the common size income statement for Rim (Round your answers to one decimal place, XX%) municate Rim Department Store, Inc. Common-Size Income Statement Year Ended December 31, 2018 Rim Industry Average TO Enter any number in the edit fields and then click Check Answer 7 Darts remaining Clear A Check Answer The Department Stores, Inc. chief executive officer (CEO) has asked you to compare the company's profit performance and financial position with the averages for Pearson Test the industry The CEO has given you the company's income statement and balance short as well as the industry average data for retailers. Cick the foon to view the income statement (Click the icon to view the balance sheet) Multimedia Read the requirements Chapter Resor Net Sales Revence 100.0 % Dynamic Stud Cost of Good Bolu Modules Gross Profit 32% 19.7 Communicatie Operating Expenses Operating Income 14.5% Other Expense 14.1 Net Income % 058 EO 04 Enter any number in the edit field and then click Check Answer 7 parte remaining Con Al Check Answer Question Help sition with the averages for Requirements The Rim Department Store the industry. The CEO has (Click the icon to view Read the requirements Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Operating Income Other Expenses 1. Prepare a common size income statement and balance sheet for Rim. The first column of each statement should present Rim's common-sze statement, and the second column, the industry averages 2. For the profitability analysis, compute Rim's (a) gross profit percentage and (b) profit margin ratio. Compare these figures with the industry averages, Is Rim's profit performance better or worse than the industry average? 3. For the analysis of financial position, compute Ri's (a) current ratio and (b) debt to equity ratio Compare these ratios with the industry averages. Assume the current ratio industry average is 1.47 and the debt to equity Industry average is 1.83. Is Rim's financial position better or worse than the industry averages? GO Net Income Enter any number in the ed Print Done 7 parts remaining Clear All Check Answer Question Help o Data Table Similar to) Rim Department Stores industry. The CEO has d Click the icon to view ad the requirements sition with the averages for Requi Industry Average at Sales Revenue Rim $ hof each industry st of Goods Sold ons Profit 776.000 524,578 100.0 % 658 1. Prepa staten averad 2 Forth ratio worse 3 Forth Comp 1.47 than Net Sales Revenue Cont of Goods Bold Gross Profit Operating Expenses Operating Income hargin etter or porating Expenses porting Income ther Expenses 251.424 159,856 19.7 EO 91,568 uity ratio forage is or worse 14,5 0.4 income Other Expenses 5.432 Net Income $ 80,136 14.1% er any number in the ed parts remaining Print Done Check Answer 17-25A (similar to) Data Tablo The Rim Department Stores, Inc. chief he industry. The CEO has given youth Click the icon to view the income Cead the requirements Question Help financial position with the averages for br retailers. Rim Industry Average $ Het Sales Revenue Cont of Goods Sold Bross Profit Operating Expenses Operating Income Other Expenses Jet Income Current Assets Property, plant, and Equipment, Net Intangible Assets, Net Other Assets 297,880 111,700 8.800 21,560 440,000 70.9% 23.6 0.8 4.7 Total Assets $ 100.0 % LO Current Liabilities $ 203,720 98.560 48.1% 16.6 Long-term Liabilities ater any number in the edit fields an Print Done parts remaining Check Answer Data Table Question Help financial position with the averages for br retailers. Intangible Assets, Net Other Assets Total Asses 8.800 21,560 lanto) e Rim Department Stores, Inc. chief industry. The CEO has given youth Click the icon to view the income nad the requirements Sales Revenue est of Goods Sold Profit rating Expenses rating Income er Expenses Income 0.8 4.7 $ 440,000 100.0% Current Liabilities S 203,720 98,500 48.1 % 16.5 EO Long-term Liabilities Total Liabilities Stockholders' Equity Total Liabilities and Stockholders' Equity 302.280 137.720 64.7 35.3 $ 440,000 100.0 % any number in the edit fields an Print Done arts emaining Check