26 May Question Analysis of Merchandising Income Statement
Question
store in a suburban mall. Called Tanika’s Jeans Company, the shop sold designer jeans. Tanika
Jones worked14 hours a day and controlled all aspects of the operation. All sales were for cash or
bank credit card. Tanika’s Jeans Company was such a success that in 2010, Jones decided to
open a second store in another mall. Because the new shop needed her attention, she hired a
manager to work in the original store with its two existing sales clerks. During 2010, the new
store was successful, but the operations of the original store did not match the first year’s
performance.
Concerned about this turn of events, Jones compared the two years’ results for the original store.
2010
2009
Net sales
$325,000
$350,000
Cost of goods sold
225,000
225,000
Gross margin
$100,000
$125,000
Operating expenses
75,000
50,000
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