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what is the correct answer to the bottom part

what is the correct answer to the bottom part

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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what is the correct answer to the bottom part
6. UBERCRUMMIE & FRITCH CO. 7. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME 8 (In millions, except share and per share amounts) Trend Analysis Common-Size Analysis 9. Fiscal Years Ended December 31, 2020-2021 2019-2020 2021 2020 10 $ Change 2021 $ Change (1,655) (708) (947) 2020 2019 % Change % Change (Percent of Net Sales) 100.00% 11 Net sales 5,750 4,440 6,095 2$ 1,310 -27.15% 29.50% 100.00% 12 Cost of Goods Sold 3,840 3,132 . 22.61% 3,840 2,255 708 -18.44% 66.78% 70.54% 13 GROSS PROFIT 1,910 1,308 602 46.02% -42.00% 33.22% 29.46% 14 Stores and Distribution Expense 1,150 777 1,035 373 (258) (242) 48.01% -24.93% 20.00% 17.50% 15 Selling, General and Administrative Expense 460 333 575 127 38.14% -42.09% 8.00% 7.50% 16 Other Operating Expense (Income), Net 12 22 35 (10) -45.45% (13) (434) (2) -37.14% 0.21% 0.50% 17 OPERATING INCOME 288 176 610 5.01% 112 63.64% -71.15% 3.96% -0.09% 18 Interest Income (Expense) (4) (4) (2) 3 -75.00% 100.00% -0.02% 19 OPERATING INCOME BEFORE TAXES 287 172 608 115 66.86% (436) -71.71% 4.99% 3.87% 20 Income Tax Expense 115 47.44% 78 230 37 (152) -66.09% 2.00% 1.76% %3D 21 NET INCOME $4 172 $4 24 -75.13% 94 378 78 82.98% $ (284) 2.99% 2.12% 22 EARNINGS PER SHARE 2$ 1.98 $ 1.07 4.20 23 24 Calculate the following for: 2021 2020 Gross Profit Margin (percentage) Net Profit Margin (percentage) Formulas/Links: 29.46% =C13/C11 2.12% =C21/C11 25 33.22% ΞE13/E11 26 2.99% =E21/E11 27 28 Select the possible explanations for the change in the Gross Profit Margin from 2020 to 2021: 29 30 31 Sales prices increased and unit costs of inventory decreased 32 33 Sales prices decreased and unit costs of inventory increased 34 Sales quantity increased and goods sold decreased Sales quantity decreased and goods sold increased Two of more of these are possible explanations heets + None of these are possible explanations Q Search Description Searc Task type Description FEB 16 étvS MacBook Air 80 DD O00 esc F1 F2 F3 F4 F5 F6 F7 FB
Transcribed Image Text:6. UBERCRUMMIE & FRITCH CO. 7. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME 8 (In millions, except share and per share amounts) Trend Analysis Common-Size Analysis 9. Fiscal Years Ended December 31, 2020-2021 2019-2020 2021 2020 10 $ Change 2021 $ Change (1,655) (708) (947) 2020 2019 % Change % Change (Percent of Net Sales) 100.00% 11 Net sales 5,750 4,440 6,095 2$ 1,310 -27.15% 29.50% 100.00% 12 Cost of Goods Sold 3,840 3,132 . 22.61% 3,840 2,255 708 -18.44% 66.78% 70.54% 13 GROSS PROFIT 1,910 1,308 602 46.02% -42.00% 33.22% 29.46% 14 Stores and Distribution Expense 1,150 777 1,035 373 (258) (242) 48.01% -24.93% 20.00% 17.50% 15 Selling, General and Administrative Expense 460 333 575 127 38.14% -42.09% 8.00% 7.50% 16 Other Operating Expense (Income), Net 12 22 35 (10) -45.45% (13) (434) (2) -37.14% 0.21% 0.50% 17 OPERATING INCOME 288 176 610 5.01% 112 63.64% -71.15% 3.96% -0.09% 18 Interest Income (Expense) (4) (4) (2) 3 -75.00% 100.00% -0.02% 19 OPERATING INCOME BEFORE TAXES 287 172 608 115 66.86% (436) -71.71% 4.99% 3.87% 20 Income Tax Expense 115 47.44% 78 230 37 (152) -66.09% 2.00% 1.76% %3D 21 NET INCOME $4 172 $4 24 -75.13% 94 378 78 82.98% $ (284) 2.99% 2.12% 22 EARNINGS PER SHARE 2$ 1.98 $ 1.07 4.20 23 24 Calculate the following for: 2021 2020 Gross Profit Margin (percentage) Net Profit Margin (percentage) Formulas/Links: 29.46% =C13/C11 2.12% =C21/C11 25 33.22% ΞE13/E11 26 2.99% =E21/E11 27 28 Select the possible explanations for the change in the Gross Profit Margin from 2020 to 2021: 29 30 31 Sales prices increased and unit costs of inventory decreased 32 33 Sales prices decreased and unit costs of inventory increased 34 Sales quantity increased and goods sold decreased Sales quantity decreased and goods sold increased Two of more of these are possible explanations heets + None of these are possible explanations Q Search Description Searc Task type Description FEB 16 étvS MacBook Air 80 DD O00 esc F1 F2 F3 F4 F5 F6 F7 FB
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