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tivo tivo
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7 years ago
The following is a common-sized Income Statement for Sigma and Chi Companies.

(in thousands)   Sigma %   Chi %
Net Sales   100.0%   100.0%
Cost of Goods Sold   64.6%   60.8%
Gross Profit   35.4%   39.2%
Operating Expenses      
 Selling, General and Adm.   15.4%   15.3%
 Other   1.4%   1.5%
Income Before Income Tax   18.7%   22.4%
Income Tax Expense   2.7%   3.1%
Net Income   16.0%   19.3%

Which company has better control of their overall operating expenses?
A) Not enough information is given to assess the question.
B) Sigma Company
C) Chi Company
D) Too close to make a solid determination.
Textbook 
Financial Accounting

Financial Accounting


Edition: 3rd
Authors:
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antonio_johnantonio_john
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Massachusetts Institute of Technology
-- Accounting

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tivo Author
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#2
7 years ago
Thank you for helping me with my accounting homework, will ask again
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