Softex and Sanibel Solutions are manufacturers of cotton products. Their income statements for a current year are below.
?
?
Softex
Sanibel Solutions
Revenues
$2,456,000
$1,985,000
Cost of services (expense)
(1,375,360)
(1,046,000)
Selling, general, and administrative expenses
(785,920)
(592,500)
Depreciation and other expenses
(103,500)
(119,100)
Operating income
191,220
227,400
?
?
What will be an ideal response?
(a)
| ? | Softex | Sanibel Solutions | ||
| ? | Amount | Percent | Amount | Percent |
| Revenues | $2,456,000 | 100.0% | $1,985,000 | 100.0% |
| Cost of services (expense) | (1,375,360) | 56.0% | (1,046,000) | 52.7% |
| Selling, general, and administrative expenses | (785,920) | 32.0% | (592,500) | 29.8% |
| Depreciation and other expenses | (103,500) | 4.2% | (119,100) | 6.0% |
| Net income | $191,220 | 7.8% | $227,400 | 11.5% |
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