Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Following are selected income statement and balance sheet data from two retailers: Abercrombie & zich dothing in the Nighend market and Tax Companies clothing retailer

image text in transcribed
image text in transcribed
Following are selected income statement and balance sheet data from two retailers: Abercrombie & zich dothing in the Nighend market and Tax Companies clothing retailer in the value pred narkett for the fiscal year ended February 2, 2019 (a) Express each income statement amount as a percentage of sales Round your answers to one decimal place lex: 0 2345-2350) Income statement is thousandu) ANF Tpx Salt 31590.105 5697294 cost of coods sold 30.103 2.3277 Gross pret 2150916 11.141757 Toatexes OBTOO Nee income 78.300 NO WX 32 b) press each balance sheet amount as a percentage of total assets Round your answers to one decimal place fer 02345 - 23.5 Balance sheet thousands ANP TJK Current as 5.950 568408222 Jane Meman 1040.63 S.S. TO 20.05 1142029 Ourrenties 5556 55.3314 concerts 0.005 26.04 Total Site 6607 27101 tockholders' 1215.51 1 501606 Totals and equity 13:38 Following are selected income statement and balance sheet data from two retailers: Abercrombie & Fitch year ended February 2, 2019. (a) Express each income statement amount as a percentage of sales, Round your answers to one decimal place (ex: 0.2345 = 23.5%) Income Statement ($ thousands) ANF TJX Sales $3,590.109 9 X $38,972,934 96 X Cost of goods sold 1,430,193 96 X 27.831,177 96 X Gross profit 2.159,916 96 % 11,141,757 96 X Total expenses 2.081,108 96 X 8.081.959 96 X Net Income $ 78,808 96 X $3.059.798 96 % (b) Express each balance sheet amount as a percentage of total assets. Round your answers to one decimal place (ex: 0.2345 = 23.5%). Balance Sheet ($ thousands) ANF TjX Current assets $1,335,950 56.96 $8,469,222 59.11% x Long-term assets 1.049,643 43.99 % X 5,856,807 40.88 96 X Total assets $2.385,593 0 % x $14.326,029 96 X Current liabilities $558,917 23.4296 X $5,531,374 38.61 96 % Long-term liabilities 608,055 25.499 % 3,746,049 26.14 96 % Total liabilities 1.166,972 48.91 96 X 9.277,423 64.74 96 x Stockholders' equity 1.218,621 48.91 96 X 5.048,606 35.2498 x Total liabilities and equity $2.385.593 0 % * $14,326,029 0 % X

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

Accounting For Deferred Income Taxes

Authors: Bobby Carmichael

2nd Edition

1119724562, 9781119724568

More Books

Students also viewed these Accounting questions

Question

Explain the importance of Human Resource Management

Answered: 1 week ago

Question

Discuss the scope of Human Resource Management

Answered: 1 week ago

Question

Discuss the different types of leadership

Answered: 1 week ago

Question

Write a note on Organisation manuals

Answered: 1 week ago