The McConnell Department Stores, Inc. chief executive officer (CEO) has asked you to compare the companys profit performance and financial position with the averages for the industry. The CEO has given you the companys income statement and balance sheet, as well as the industry average data for retailers.

Compare the companys profit performance and financial position with the average for the industry.

McConnell Department Stores, INC.
Income Statement Compared with Industry Average
Year Ended December 31, 2014
	Amount	Company Average	Industry Average
Net Sales	$ 778,000	100%	100%
Cost of Goods Sold	522,816	67.20%	65.80%
Gross Profit	$ 255,184	32.80%	34.20%
Operating Expenses	161,046	20.70%	19.70%
Operating Income	$ 94,138	12.10%	14.50%
Other Expenses	4,668	0.60%	0.40%
Net Income	$ 89, 470	11.50%	14.10%

McConnell Department Stores, INC.
Balance Sheet Compared with Industry Average
Year Ended December 31, 2014
	Amount	Company Average	Industry Average
Current Assets	$ 325,440	67.80%	70.90%
Fixed Assets, Net	120,960	25.20%	23.60%
Intangible Assets, Net	8,640	1.80%	0.80%
Other Assets	24,960	5.20%	4.70%
Total Assets	$ 480,000	100%	100%
Current Liabilities	$ 222,720	46.40%	48.10%
Long-term Liabilities	107,520	22.40%	16.60%
Total Liabilities	330,240	68.80%	64.70%
Stockholders Equity	149,760	31.20%	35.30%
Total Liabilities and Stockholders Equity	$480,000	100%	100%