Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The two companies reported these figures Chocolate treats Ind (THOUSANDS) FISCAL YEAR 2030 2019 REVENUES NET SALES COSTS AND EXPENSES COST OF GOODS SOLD 5543
The two companies reported these figures Chocolate treats Ind (THOUSANDS) FISCAL YEAR 2030 2019 REVENUES NET SALES COSTS AND EXPENSES COST OF GOODS SOLD 5543 $700 475 594 GENERAL AND ADMINISTRATIVE EXPENSES 68 55 CHOCOLATE TREATS LTD BALANCE SHEET JANUARY 31 (THOUSANDS) ASSETS CURRENT ASSETS 2020 2019 RECIEVABLES INVENTORIES CASH AND CASH EQUIVALENTS $17 $28 27 30 24 29 COFFEE BARS INC STATEMENT OF EARNINGS (THOUSANDS) FISCAL YEAR NET SALES 2020 2019 COSTS OF GOODS SOLD $7,787 $6,369 SELLING GENERAL AND ADMINISTRATIVE EXPENSES 3.179 2,605 2,948 2,363 COFFE BARS INC BALANCE SHEET YEAR END 2020 2019 (THOUSANDS) ASSETS CURRENTS ASSETS CASH AND TEMPORARY INVESTMENT RECEIVABLES NET INVENTORIES $313 224 636 $174 191 546 USE GROOS PROFIT PERCENTAGE AND INVENTORY TURNOVER TO EVALUATE TWO COMPANIES REQUIEMENT COMPARE THE GROOS PROFIT PERCENTAGE AND THE RATE OF INVENTORY TURNOVER FOR CHOCOLATE TREATS AND FOR COFFEE BARS FOR 2020. 2. BASED ON THESE STATISTICS, WHICH COMPANY LOOKS MORE PROFITABLE?WHY?WHAT OTHER EXPENSE CATEGORY SHOULD WE CONSIDERS IN EVALUATING THERE TWO COMPANIES
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started