Below are the income statements of two competitive companies, Green Company and Black Company, for the current year.Green CompanyBlack CompanyNet sales$ 6,200$ 3,440Cost of goods sold3,8802,030Gross margin 2,320 1,410Operating expenses: Selling expenses1,220660 Administrative expenses 875 505Total operating expenses 2,095 1,165Net income$ 225$ 245Required: Based on the above statements, determine:1) The gross margin percentage for each company2) The net income percentage for each company3) Which company is selling their products for lower prices (at a lower markup)?
What will be an ideal response?
1) Green Company = 37.4% ($2,320 ÷ $6,200)
Black Company = 41.0% ($1,410 ÷ $3,440)
2) Green Company = 3.6% ($225 ÷ $6,200)
Black Company = 7.1% ($245 ÷ $3,440)
3) Green Company is selling its products for at a lower markup: its gross profit percentage is 37.4%, compared to 41.0% for Black Company.
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Indicate whether the statement is true or false
The following are examples of specific assets except
a. application maintenance b. data warehousing c. highly skilled employees d. server maintenance
Law enforcement officers enjoy absolute immunity:
a. when testifying in court b. during investigations c. when conducting warrantless searches and arrests d. all of the above e. none of the above
Denise had been shopping in Pets Are Us and left the store to go to her car in the store's parking lot without having made a purchase
Cassandra, a security person with Pets Are Us, thought she had seen Denise put tin of fish food in her purse while standing in front of one of the counters. Cassandra asked management to call the police and followed Denise to her car, and stood immediately behind it so that Denise could not reverse out of the parking space. Denise's car was surrounded on the three other sides by parked cars and Cassandra refused to move when Denise asked her to. When the police arrived it turned out that Denise had not taken anything from the store but had simply removed her watch and placed it in her purse. Which of the following is TRUE? A) The business would be liable for false imprisonment as Denise was physically restrained from leaving the premises. B) The business would not be liable for false imprisonment as Denise had not been physically restrained and was free to leave her car and walk away at any time. C) The business would be liable because although no actual touching occurred there was a threat of physical restraint. D) The business would not be liable as there had been no threat of embarrassment or public humiliation to Denise. E) The business would not be liable because Denise had reasonable and probable grounds to believe that Cassandra had committed theft.