Clever, Inc., is a car manufacturer. Its 2018 income statement

Clever, Inc., is a car manufacturer. Its 2018 income statement is as follows:

Clever, Inc. Income Statement for the Year

Ended December 31, 2018

Sales revenue …………………………………………………………….     $20,000

Less cost of goods sold ………………………………………………        10,000

Gross margin ……………………………………………………………..    $ 10,000

Expenses ……………………………………………………………………         8.000

Net income ………………………………………………………………..    $   2.000

Alexander, Inc., is a car rental agency based in Florida. Its 2018 income statement is as follows:

Alexander, Inc. In come Statement for the Year Ended December 31, 2018

Sales revenue ……………………………………………….   $20,000

Expenses ……………………………………………………..      15,000

Net income ………………………………………………….    $  5,000

During 2018, both Oever, Inc., and Alexander, Inc., incurred a $1,000 fraud loss.

1. How much additional revenue must each company generate to recover the losses from the fraud?

2. Why are these amounts different?

3. Which company will probably have to generate less revenue to recover the losses?

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