Menu market and Tjx Companies clothing retailer in the value

Menu market) and Tjx Companies (clothing retailer in the value priced market), for the fiscal year ended January 30, 2016. (a) Express each income statement amount as a percentage of sales. TIX Cost of goods sold 1,361,137 0% 22.034523 MacBook Pro

Solution

Comparative Income Statement Income Statement For the year ended december 31st 20XI AFN TJX % of Sales % of Sales Ans1 ) Sales $                         3,518,680.00 100.00% Net Sales $                           30,944,938.00 100.00% Cost of goods sold $                         1,361,137.00 38.68% Cost of goods sold $                           22,034,523.00 71.21% Gross Profit $                         2,157,543.00 61.32% Gross Profit $                             8,910,415.00 28.79% Total Expenses $                         2,121,967.00 60.31% Operating Expenses $                             6,632,757.00 21.43% Net Income $                               35,576.00 1.01% Net Income $                             2,277,658.00 7.36% Working AFN TJX % of Sales % of Sales Sales (3518680/3518680)*100 100.00% Net Sales ($30944938/$3094498)*100 100.00% Cost of goods sold (1361137/3518680)*100 38.68% Cost of goods sold ($22034523/$3094498)*100 71.21% Gross Profit ($2157543/$3518680)*100 61.32% Gross Profit ($8910415/$30944938)*100 28.79% Total Expenses ($2121967/$3518680)*100 60.31% Operating Expenses ($6632757/$30944938)*100 21.43% Net Income ($35576/$3518680)*100 1.01% Net Income ($2277658/$30944938)*100 7.36% Common Size Balance Sheet ANF TJX Current Assets 48% 59% Long Term Assets 52% 41% Total Assets 100% 100% Current Liabilities 22% 38% Long Term Liabilities 25% 24% Stockholder\'s Equity 53% 37% Total Liabilities & Stockholder\'s Equity 100% 100% Working ANF TJX Current Assets (1178980/2433039)*100 (6772560/11499482)*100 Long Term Assets ($1254059/2433039)*100 ($4726922/11499482)*100 Total Assets ($2433039/$2433039)*100 ($11499482/$11499482)*100 Current Liabilities ($534703/$2433039)*100 ($4402230/$11499482)*100 Long Term Liabilities ($602614/$2433039)*100 ($2790177/$11499482)*100 Stockholder\'s Equity ($1295722/$2433039)*100 ($4307075/$11499482)*100 Total Liabilities & Stockholder\'s Equity ($2433039/$2433039)*100 ($11499482/$11499482)*100 Which of the following statement about business model is more consistant 1) AFN gross profit is higher than TJX\'s because its sales volume allows it to manufacture clothes at lower per unit cost than can TJX\'s. 2) AFN reports lower current assets as a percentage of total assets because it pays its vendors on timely basis than TJX. 3) Company TJX reports lower portion of Debts.