Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Annual Budgeted Statements: Pro Forma Statements: Income Statement and Balance Sheet. (Hint: Extrapolate your quarterly calculations into annual numbers. That is, all annual numbers are

Annual Budgeted Statements:

Pro Forma Statements: Income Statement and Balance Sheet. (Hint: Extrapolate your quarterly calculations into annual numbers. That is, all annual numbers are based on already developed first quarterly statements).

you can also follow the 10k report of TJ Maxx company for the ans

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

TJX Income Statement As of 1/29/2022 \begin{tabular}{|cccc|} \hline \multicolumn{4}{|c|}{ Fiscal Year Ended } \\ \hline Jan 29, 2022 & Jan 30, 2021 & Feb 1, 2020 & Feb 2, 2019 \\ \hline$4,85,49,982 & $3,21,36,962 & $4,17,16,977 & $3,89,72,934 \\ \hline \end{tabular} \begin{tabular}{|rrrr|} \hline \multicolumn{4}{|c|}{ \% to Net Sales } \\ \hline Jan 29, 2022 & Jan 30, 2021 & Feb 1, 2020 & Feb 2, 2019 \\ \hline 100.0% & 100.0% & 100.0% & 100.0% \\ \hline \end{tabular} Not Sales Cost of Sales, incl. buying and occupancy \begin{tabular}{rrrr} & & & \\ 71.5% & 76.3% & 71.5% & 71.4% \\ \hline 28.5% & 23.7% & 28.5% & 28.6% \\ \hline 18.7% & 21.8% & 17.9% & 17.8% \\ \hline 0.5% & 1.0% & 0.0% & 0.1% \\ \hline 9.3% & 0.8% & 10.6% & 10.7% \\ \hline 0.2% & 0.6% & 0.0% & 0.0% \\ \hline 9.1% & 0.3% & 10.6% & 10.7% \\ \hline 2.3% & 0.0% & 2.7% & 2.9% \\ \hline 6.8% & 0.3% & 7.8% & 7.9% \\ \hline & & & \\ \hline 0.0% & 0.0% & 0.0% & 0.0% \\ \hline 2.5% & 3.7% & 2.9% & 3.2% \\ \hline 0.0% & 0.0% & 0.0% & 0.0% \\ \hline 2.5% & 3.8% & 2.9% & 3.2% \\ \hline & & & \\ \hline & & & \\ \hline & & \end{tabular} Net Income Additions to other comprehensive (loss) income Foreign currency translation adjustemnts, net of related tax provisions of $207 and $2,442 in fiscal 2022 and 2021 \begin{tabular}{ll|l|l|l} $(46,715) & $ & 15,588 & $ & (3,943) \end{tabular} respectively and tax benefits of $1,189 in fiscal 2020 Recognition of net gains/losses on benefit obligations, net of related tax benefit of $17,659 in fiscal 2022 , tax provision of $(48,504)$30,635$(56,275) Recognition of net gains/losses on benefit obligations, net of related tax benefit of $17,659 in fiscal 2022 , tax provision of $9.974 in fiscal 2021 and tax benefit of $20,489 in fiscal 2020 Reclassifications from other comprehensive loss to net income $(48,504)$30,635$(56,275) Amortization of loss on cash flow hedge, net of related tax proviisons of $603,$303, and $303 in fiscal 2022,2021 , and 2020 , (263)$831$831 respectively Amortization of prior service cost and deferred gains/losses, net of related tax provisions of $4,588,$7,298, and $6,019, \begin{tabular}{|ll|l|ll} $ & 14,403 & $20,046 & $ & 16,537 \end{tabular} in fiscal 2022,2021 and 2020 , respectively \begin{tabular}{lr|rrrrrr} Other comprehensive (loss) income, net & of tax & $ & (81,079) & $ & 67,100 & $ & (42,850) \\ \hline Total Comprehensive Income & $32,01,736 & $ & 1,57,570 & $32,29,343 \\ \hline \hline \end{tabular} TJX Balance Sheet As of 1/29/2022 $000 's \begin{tabular}{|c|c|c|c|c|} \hline Fiscal Year Ended & % Common Size Balance Sheet \\ \hline \end{tabular} Assets Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Jan 29,2022 Jan 30,2021 Feb 1, 2020 Cash \& cash eqivalents Accounts Receivable, net Merchandise Inventories Prepaid expense and other current assets Federal, State and Foreign income taxes recoverable Total Current Assets Net Property at cost Non-current deferred income taxes, net Operating lease right of use assets Goodwill Total Non-Current Assets Total Assets Liabilities Current Liabilities Accounts Payable Accured expense and other current liablities Current portion of operating lease liablities Current portion of long-term debt Federal, State, and freign income taxes paybable \begin{tabular}{|r|r|r|r|r|r|r|r|r|r|r|r|r|r|r|r|r|r|} \hline$44,65,427 & $48,23,397 & $26,72,557 & 15.7% & 15.7% & 11.1% & 20.8% & 20.2% & 15.4% \\ \hline$42,44,997 & $34,71,459 & $30,41,774 & 14.9% & 11.3% & 12.6% & 19.8% & 14.5% & 17.5% \\ \hline$15,76,561 & $16,77,605 & $14,11,216 & 5.5% & 5.4% & 5.8% & 7.4% & 7.0% & 8.1% \\ \hline$ & & $7,49,684 & $ & & 0.0% & 2.4% & 0.0% & 0.0% & 3.1% & 0.0% \\ \hline$1,81,155 & $81,523 & $24,700 & 0.6% & 0.3% & 0.1% & 0.8% & 0.3% & 0.1% \\ \hline \end{tabular} Shareholders Equity TJX Income Statement As of 1/29/2022 \begin{tabular}{|cccc|} \hline \multicolumn{4}{|c|}{ Fiscal Year Ended } \\ \hline Jan 29, 2022 & Jan 30, 2021 & Feb 1, 2020 & Feb 2, 2019 \\ \hline$4,85,49,982 & $3,21,36,962 & $4,17,16,977 & $3,89,72,934 \\ \hline \end{tabular} \begin{tabular}{|rrrr|} \hline \multicolumn{4}{|c|}{ \% to Net Sales } \\ \hline Jan 29, 2022 & Jan 30, 2021 & Feb 1, 2020 & Feb 2, 2019 \\ \hline 100.0% & 100.0% & 100.0% & 100.0% \\ \hline \end{tabular} Not Sales Cost of Sales, incl. buying and occupancy \begin{tabular}{rrrr} & & & \\ 71.5% & 76.3% & 71.5% & 71.4% \\ \hline 28.5% & 23.7% & 28.5% & 28.6% \\ \hline 18.7% & 21.8% & 17.9% & 17.8% \\ \hline 0.5% & 1.0% & 0.0% & 0.1% \\ \hline 9.3% & 0.8% & 10.6% & 10.7% \\ \hline 0.2% & 0.6% & 0.0% & 0.0% \\ \hline 9.1% & 0.3% & 10.6% & 10.7% \\ \hline 2.3% & 0.0% & 2.7% & 2.9% \\ \hline 6.8% & 0.3% & 7.8% & 7.9% \\ \hline & & & \\ \hline 0.0% & 0.0% & 0.0% & 0.0% \\ \hline 2.5% & 3.7% & 2.9% & 3.2% \\ \hline 0.0% & 0.0% & 0.0% & 0.0% \\ \hline 2.5% & 3.8% & 2.9% & 3.2% \\ \hline & & & \\ \hline & & & \\ \hline & & \end{tabular} Net Income Additions to other comprehensive (loss) income Foreign currency translation adjustemnts, net of related tax provisions of $207 and $2,442 in fiscal 2022 and 2021 \begin{tabular}{ll|l|l|l} $(46,715) & $ & 15,588 & $ & (3,943) \end{tabular} respectively and tax benefits of $1,189 in fiscal 2020 Recognition of net gains/losses on benefit obligations, net of related tax benefit of $17,659 in fiscal 2022 , tax provision of $(48,504)$30,635$(56,275) Recognition of net gains/losses on benefit obligations, net of related tax benefit of $17,659 in fiscal 2022 , tax provision of $9.974 in fiscal 2021 and tax benefit of $20,489 in fiscal 2020 Reclassifications from other comprehensive loss to net income $(48,504)$30,635$(56,275) Amortization of loss on cash flow hedge, net of related tax proviisons of $603,$303, and $303 in fiscal 2022,2021 , and 2020 , (263)$831$831 respectively Amortization of prior service cost and deferred gains/losses, net of related tax provisions of $4,588,$7,298, and $6,019, \begin{tabular}{|ll|l|ll} $ & 14,403 & $20,046 & $ & 16,537 \end{tabular} in fiscal 2022,2021 and 2020 , respectively \begin{tabular}{lr|rrrrrr} Other comprehensive (loss) income, net & of tax & $ & (81,079) & $ & 67,100 & $ & (42,850) \\ \hline Total Comprehensive Income & $32,01,736 & $ & 1,57,570 & $32,29,343 \\ \hline \hline \end{tabular} TJX Balance Sheet As of 1/29/2022 $000 's \begin{tabular}{|c|c|c|c|c|} \hline Fiscal Year Ended & % Common Size Balance Sheet \\ \hline \end{tabular} Assets Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Jan 29,2022 Jan 30,2021 Feb 1, 2020 Cash \& cash eqivalents Accounts Receivable, net Merchandise Inventories Prepaid expense and other current assets Federal, State and Foreign income taxes recoverable Total Current Assets Net Property at cost Non-current deferred income taxes, net Operating lease right of use assets Goodwill Total Non-Current Assets Total Assets Liabilities Current Liabilities Accounts Payable Accured expense and other current liablities Current portion of operating lease liablities Current portion of long-term debt Federal, State, and freign income taxes paybable \begin{tabular}{|r|r|r|r|r|r|r|r|r|r|r|r|r|r|r|r|r|r|} \hline$44,65,427 & $48,23,397 & $26,72,557 & 15.7% & 15.7% & 11.1% & 20.8% & 20.2% & 15.4% \\ \hline$42,44,997 & $34,71,459 & $30,41,774 & 14.9% & 11.3% & 12.6% & 19.8% & 14.5% & 17.5% \\ \hline$15,76,561 & $16,77,605 & $14,11,216 & 5.5% & 5.4% & 5.8% & 7.4% & 7.0% & 8.1% \\ \hline$ & & $7,49,684 & $ & & 0.0% & 2.4% & 0.0% & 0.0% & 3.1% & 0.0% \\ \hline$1,81,155 & $81,523 & $24,700 & 0.6% & 0.3% & 0.1% & 0.8% & 0.3% & 0.1% \\ \hline \end{tabular} Shareholders Equity

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_2

Step: 3

blur-text-image_3

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

Computerized Accounting With Quickbooks 2018

Authors: James B. Rosa, Kathleen Villani

1st Edition

0763882674, 9780763882679

More Books

Students also viewed these Accounting questions

Question

Describe sources of ethical guidance.

Answered: 1 week ago