FNT1_Task1_LAST (3) - NET SALES Cost of Merchandise Sold...

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Company D Comparative Income Statements December 31, Years 11 and 10 (amounts in thousands) Horizontal Analysis Year 11 Year 10 Change % Inc (Dec) NET SALES 134,550 123,708 10,842 8.76% Cost of Merchandise Sold 92,721 86,409 6,312 7.30% GROSS PROFIT 41,829 37,299 4,530 12.15% Operating Expenses: Selling and Store Operating 25,827 23,478 2,349 10.01% Pre-Opening 222 267 -45 -16.85% General and Administrative 2,316 2,163 153 7.07% Total Operating Expenses 28,365 25,908 2,457 9.48% OPERATING INCOME 13,464 11,391 2,073 18.20% Interest Income (Expense): Interest Income 183 117 66 56.41% Less: Interest Expense 84 66 18 27.27% Interest, net 99 51 48 94.12% EARNINGS BEFORE INCOME TAXES 13,563 11,442 2,121 18.54% Provision for Income Taxes 5,052 4,419 633 14.32% NET EARNINGS 8,511 7,023 1,488 21.19% Company D Comparative Balance Sheets December 31, Years 11 and 10 (amounts in thousands) Year 11 Year 10 ASSETS Current Assets: Cash and Cash Equivalents 3,566 5,562 -1,996 -35.89% Short-Term Investments 36 162 -126 -77.78% Accounts Receivable, net 2,738 2,286 452 19.77% Merchandise Inventory 20,503 15,534 4,969 31.99% Other Current Assets 688 393 295 75.06% Total Current Assets 27,531 23,937 3,594 15.01% Property and Equipment, at cost:
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This note was uploaded on 08/25/2011 for the course BUSINESS LET taught by Professor Mentor during the Spring '11 term at Western Governors.

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FNT1_Task1_LAST (3) - NET SALES Cost of Merchandise Sold...

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