Abercrombic \& Fitch reports the following income statements.Abercrombic \& Fitch reports the following income statements.

Forecast Abercrombie \& Fitch's 2009 income statement assuming the following income statement relations. Assume no change for all other accounts not listed below. All percentages, other than sales growth and provision for income taxes, are based on percent of net sales.

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Income Statement, For Fiscal Years Ended ($ thousands) 2008 2007 Net sales..... $3,749.847 $3,318,158 Cost of goods sold.. 1,238,480 1,109,152 Gross profit... 2,511,367 2,209,006 Stores and distribution expense. 1,386,846 1,187,071 Other operating (income), net... Marketing, general and administrative expense. Operating income... Interest income, net. Income before income taxes Provision for income taxes.. Net Income.... 395,758 373,828 (11,734) (9,983) 740,497 658,090 (18,828) (13,896) 759,325 671,986 283,628 249,800 $ 475,697 $ 422,186