Presented are the income statements of Ritman and Taylor Publications companies for the current year:
Ritman Taylor
Net sales revenue $487,000 100.00% $500,000 100.00%
COGS 400,000 82.14% 395,000 79.00%
Gross Profit 87,000 17.86% 105,000 21.00%
Selling/Gen Expenses 30,000 6.16% 50,000 10.00%
Income from operations 57,000 11.70% 55,000 11.00%
Income tax expense 17,100 3.51% 16,500 3.30%
Net Income $39,900 8.19% $38,500 7.70%
Which company has the better relationship percentage-wise between selling and general expenses compared to net sales revenue?
A) Impossible to determine
B) Both have the same relationship
C) Ritman
D) Taylor
C
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