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Rost Department Stores' chief executive officer (CEO) has asked you to compare the company's profit perfomance and financial position with the average for the
Rost Department Stores' chief executive officer (CEO) has asked you to compare the company's profit perfomance and financial position with the average for 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 i view the balance sheet) (Click the icon to view the income statement) Read the Requirement 1. Prepare a common size income statement and balance sheet for Rost Department Stores. The first column of each statement should present Rost Department Stores' common-size statement, while the second cum shoul present the industry averages (Hound your answers to two decimal places, XXXX) Start with preparing a common-size income statement Rost Department Stores, Inc. Common-Size Income Statement Compared to industry Average For the Year Ended December 31 Sales revenues Lass: Cost of goods sold Gross profit Less: Operating expenses Operating income Lass: Interest expense Income before income ta Less: Incama tas expense Net income Rost (%) Industry Average 100.0% 05.0% 344% 15.0% 14.8% 05% 14.3% 0.4% 139% how prepare a common-size balance sheet for Rost (Round your answers to two decimal places XXX)
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