4, Below is the common-sized statement for the calendar year for Linen and Such and Household Industry averages. Sales Cost of Goods Sold Gross Profit Selling Expense Administrative Expense Total operating Expenses Operating Income Other Revenue Other Expense Income Before Income Tax Income Tax Expense Net Income Required Linen and Such Company 100% 34.8 65.2% 13.7% 12.1 25.8% 39.4% 2.4 41.8% 1.5 40.3% 14.1 26.2% Household Industry Averages 100% 31.2 68.8% 13.9% 11.8 25.7% 43.1% 1.9 45.0% 1.1 439% 15.4 28.5% Compare Linen and Such with the industry averages and identify strengths and weaknesses that Linen and Such has in the industry, Does Linen and Such need any course correction? What does it need?

Sellall Department Stores reported the following amounts as of its December 31 year-end: Administrative Expenses, $2,400; Cost of Goods Sold, $22,728; Income Tax Expense, $3,000; Interest Expense, $1,600; Interest Revenue, $200; General Expenses, $2,600; Net Sales, $37,880; and Delivery (freight-out) Expense, $300. Required: 1. Calculate the gross profit percentage.   2. How has Sellall performed, relative to the 24.5 percent gross profit percentage reported for Walmart in 2019? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.)check all that apply Sellall Department Stores earned a higher gross profit percentage than Walmart. Walmart earned a higher gross profit percentage than Sellall Department Stores. Sellall includes more mark-up in the prices it charges customers than Walmart. Walmart includes more mark-up in prices it…

The following percentages apply to Zachary Company for Year 3 and Year 4: Sales Cost of goods sold Gross margin Selling and administrative expense Interest expense Total expenses Income before taxes Income tax expense Net income ZACHARY COMPANY Income Statements Sales Cost of goods sold Gross margin Selling and administrative expenses Interest expense Total expenses Income before taxes Income tax expense Net income Required Assuming that sales were $515,000 in Year 3 and $585,000 in Year 4, prepare income statements for the two years. $ Year 4 100.0 % 61.1 38.9 26.5 2.7 29.2 9.7 5.5 4.2 % Year 4 0 0 0 $ Year 3 100.0 % 63.9 36.1 20.3 1.9 Year 3 22.2 13.9 7.2 6.7 % 0 0 0

The following data were extracted from the income statement of Brecca Systems Inc.:   Current Year Preceding Year Sales $1,533,000   $1,377,915   Beginning inventories 150,275   135,275   Cost of goods sold 876,000   835,100   Ending inventories 124,275   150,275     a.  (1). Determine for each year the inventory turnover. Round to one decimal place. Current year fill in the blank 1 Preceding year fill in the blank 2        (2). Determine for each year the number of days' sales in inventory. Assume there are 365 days in the year. Round intermediate calculations to the nearest whole dollar and final answers to one decimal place. Current year fill in the blank 3 days Preceding year fill in the blank 4 days