Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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 an earlier year (ended March 31) are presented here (dollars in thousands) in simplified form in alphabetical order:

Cost of goods sold $ 1,733,916
Interest expense 417
Net revenue 2,342,260
Other selling, general, and administrative expenses 494,829
Provision for income taxes 43,583
Weighted average shares outstanding 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.

b. What is the gross profit percentage?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Signals and Systems using MATLAB

Authors: Luis Chaparro

2nd edition

123948126, 978-0123948120

Students also viewed these Accounting questions