Sheet11992%1991%Net Sales$3,041,223.001002,970,626.00100Less:
Cost of Sales2,339,406.0076.92%2,254,221.0075.88%Gross
Profits701,817.0023.08%716,405.0024.12%Selling, general, &
Admin expenses528,250.0017.37%524,898.0017.67%Reorganization
Expenses95,000.003.12%Operating
Income78,567.002.58%191,507.006.45%Interest
Expense(75,004.00)-2.47%(75,159.00)-2.53%Other -
net3,983.000.13%7,069.000.24%Income before taxes
and7,546.000.25%123,417.004.15%Accounting ChangesIncome
Taxes(15,900.00)-0.52%(44,400.00)-1.49%Income Before accounting
Changes(8,354.00)-0.27%79,017.002.66%Effects of accounting changes
for postretirement benefits(30,700.00)-1.01%- 0Net Income
(loss)($315,354)-10.37%79,017.002.66%The Common Size Statements
reveal that the Cost of Sales are a proportion has gone up by a
small amount which is one of the causes of the falling gross income
and thus one of the reason for the net loss. The other major change
seen over the years is the Reorganization expenses of $ 95000 which
is the main reason behind the net loss in the year 1992. Another
reason for the loss is the effect of accounting changes for post
retirement benefits. Thus from the commonsize statement helps us to
understand that the loss in the year 1992 is due to exceptional
items. Most of the other expenditure remain same in proportion to
sales.
MAYTAG
Sheet2
Sheet3
