1. Read case \"Nordstrom unveils plan for revamping (Case 3.2 in the reading named income statement, p.99).\" Look at the page numbers in the middle on the side. Assume that Nordstrom achieved the goals laid out by the president. Create an income statement for Nordstrom from the information given in the case. 0:0 29% overhead and expenses given in the case should be broken down as 11% procurement costs and 18% overhead/expenses for the income statement. $5.5 billion ($5,500,000.000) Net Sales 35% Gross margin 11% Procurement costs 18% Overheadtexpenses Using the formulas, complete the income statement. (Spts) Nordstrom 2000 5 % Gross Sales Customer Returns 8!. Allowances Net Sales Cost of Goods Sold Gross Margin Procurement Costs Adjusted Gross Margin Overhead/ Expenses Operating Profit Other Income] Expense Net Prot Before Taxes