ABERCROMBIE & FITCH BALANCE SHEET February 3, 2018 ($ millions) 675.6 Total liabilities 1,650.1 Stockholders' equity 2,325.7 Total Liabilities and Equity Cash Asset $ Noncash assets 1,073.2 1,252.5 2,325.7 Total Assets $ $ ABERCROMBIE & FITCH STATEMENT OF CASH FLOWS For Year Ended February 3, 2018 ($ millions) Net cash flows from operations Net cash flows from investing Net cash flows from financing Effect of exchange rate changes on cash Net change in cash Cash, beginning year Cash, ending year $ 285.7 (106.8) (74.8) 24.3 128.4 547.2 675.6 b. Determine the owner and creditor financing levels. (Round answers to one decimal place.) Percentage contributed by owners = X % Percentage contributed by creditors = X % Formulating Financial Statements from Raw Data Following is selected financial information from Abercrombie & Fitch for its fiscal year ended February 3, 2018 ($ millions): Cash Asset $675.6 Cash flows from operations 285.7 Sales 3,492.7 Stockholders' Equity 1,252.5 Cost of Goods Sold 1,408.8 Cash flows from financing Total Liabilities 1,073.2 Other Expenses, including income taxes 2,073.4 Noncash Assets 1,650.1 Cash flows from investing (106.8) Net Income 10.5 Effect of exchange rate changes on cash 24.3 Cash, beginning year 547.2 (74.8) Required a. Prepare an income statement, balance sheet, and statement of cash flows for Abercrombie & Fitch. Note: Use negative signs with your answers for the statement of cash flows, when appropriate. ABERCROMBIE & FITCH INCOME STATEMENT For Year Ended February 3, 2018 ABERCROMBIE & FITCH INCOME STATEMENT For Year Ended February 3, 2018 ($ millions) Sales $ 3492.7 1408.8 Cost of goods sold Gross profit Other Expenses, including income taxes 2083.9 2073.4 Net income $ 10.5