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The RostRost Department Stores, Inc., chief executive officer (CEO) has asked you to compare the company's profit performance and financial position with the average for the industry. The CEO has given you the company's income statement and balance sheet, as well as the industry average data for retailers. Rost Department Stores, Inc.
Income Statement Compared with Industry Average
Year Ended December 31, 2010
				Industry
			Rost	Average
		Net sales	$783,000	100.0 %
		Cost of goods sold	529,308	65.8
		Gross profit	253,692	34.2
		Operating expenses	163,647	19.7
		Operating income	90,045	14.5
		Other expenses	5,481	0.4
		Net income	$84,564	14.1 %

Rost Department Stores, Inc.
Balance Sheet Compared with Industry Average
December 31, 2010
				Industry
			Rost	Average
		Current assets	$291,970	70.9 %
		Fixed assets, net	108,360	23.6
		Intangible assets, net	6,880	0.8
		Other assets	22,790	4.7
		Total assets	$430,000	100.0 %
		Current liabilities	$198,660	48.1 %
		Long-term liabilities	94,600	16.6
		Stockholders' equity	136,740	35.3
		Total liabilities and stockholders' equity	$430,000	100.0 %

Prepare a common-size income statement for

RostRost

Department Stores. (Round your answers to one decimal place.)

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Rost Department Stores, Inc.
Common-Size Income Statement Compared to Industry Average
Year Ended December 31, 2010
			Rost	Industry
			(%)	Average (%)
		Net sales		100.0
		Cost of goods sold		65.8
		Gross profit		34.2
		Operating expenses		19.7
		Operating income		14.5
		Other expenses		0.4
		Net income		14.1

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