Timmy Company provided the following information pertaining to revenue earned by operating segments for the current year: Segment Sales to unaffiliated Intersegment sales Total revenue customers P 5,000 P 8,000 12,000 4,000 Alo P3,000 4,000 Bix 8,000 4,000 43,000 Cee Dil 59,000 In conformity with the revenue test, what is the total revenue of the reportable segments? 16,000

7. Consider the following: Code: A= Gross Profit to Net Sales Ratio B= Gross Profit to Cost of Goods Sold Ratio Which equation is correct? B = A a. 1 - A b. B = 1 + A A с. B = 1 - A A d. B = A 1 + A

Exercise 17-4 (Algo) Computing and interpreting common-size percents LO P2 Express the following comparative income statements in common-size percents. Using the common-size percents, which item is most responsible for the decline in net income? Complete this question by entering your answers in the tabs below. Income Statement Reason for Decline in Net Income Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) Sales Cost of goods sold Gross profit Operating expenses Net income GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year $ Current Year % 780,000 $ 560,000 220,000 130,400 89,600 $ Income Statement Prior Year $ $ $ 660,000 295,400 364,600 251,600 113,000 Prior Year % Reason for Decline in Net Income >

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How to convert and income statement's information to express the income statement in common-size percents and assess whether the comany's situation is favorable or unfavorable