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Aeropostale, Inc., is a mall-based specialty retailer of casual apparel and accessories. The company concept is to provide the customer with a focused selection of
Aeropostale, Inc., is a mall-based specialty retailer of casual apparel and accessories. The company concept is to provide the customer with a focused selection of high-quality, active-oriented fashions at compelling values. The items reported on its income statement for a recent year (ended March 31) are presented here (dollars in thousands) in alphabetical order: Cost of goods sold Interest expense Net revenue Other selling general, and administrative expenses Provision for income taxes Weighted average shares outstanding $1,733,916 417 2,342,260 494,829 43,583 81,208 Required: a. Prepare a classified (multiple-step) consolidated income statement (showing gross profit, operating income, and income before income taxes). Include a presentation of basic earnings per share. (Enter your answers in thousands not in dollars. Round "Basic earnings per share" to 2 decimal places.) AEROPOSTALE, INC. Consolidated Statement of Income For the Year Ended March 31, Current Year (In Thousands Except per Share Amounts) Net revenue Cost of goods sold Gross profit Other selling, general and administration expenses $2,342,260 1,733,916 608,344 494,829 Total operating expenses Operating income Interest expense 494,829 113,515 417 Income before income taxes Provision for income taxes 113,098 43,583 | $ 69,515 Net income Earnings per share: Basic earnings per share Weighted average shares outstanding b. What is the gross profit percentage? (Round your answer to nearest whole percent i.e., 0.1234 should be entered as 12) Gross profit percentage
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