Week 12 class 2

Week 12 class 2 - Week 12 class 2 (20-30 min.) Req. 1 P...

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(20-30 min.) P 13-2A Req. 1 Super Audio Inc. Common-Size Income Statement Compared to Industry Average For the Year Ended December 31, 2007 Super Audio Industry Average Net sales……………………………………… 100.0% 100.0% Cost of goods sold…………………………. 48 .0 52 .0 Gross margin………………………….……. 52.0 48.0 Operating expenses………………………. . 37 .5 36 .0 Operating income…………………………. . 14.5 12.0 Other expenses……………………………. .. 2 .0 1 .0 Net income…………………………………… 12 .5 % 11 .0 % Super Audio Inc. Common-Size Balance Sheet Compared to Industry Average As at December 31, 2007 Super Audio Industry Average Current assets………………………………. 72.8% 65.0% Capital assets, net…………………………. 20.9 29.0 Intangible assets, net………………………. 0.9 0.8 Other assets…………………………………. 5 .4 5 .2 Total assets…………………………………. . 100 .0 % 100 .0 % Current liabilities……………………………. 45.1% 50.9% Long-term liabilities………………………… 13.8 16.6 Shareholders’ equity………………………. .. 41
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This note was uploaded on 10/18/2010 for the course ACF ACC220 taught by Professor Fiona during the Spring '08 term at Seneca.

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Week 12 class 2 - Week 12 class 2 (20-30 min.) Req. 1 P...

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