Forecasting an income Statement Abercrombie & Fitch reports the following income statements. Income Statement. For Fiscal Years Ended (5 thousands) Net sales Cost of goods sold Gross profit Scores and distribution expense Marketing general and administrative expense Other operating income.net Operating income Interest expense (incomel.net Income from continuing operations before taxes Tax expense from continuing operations Net income fromcontinuing operations Loss from discontinued operations, net of tax Net income Jan. 29. 2011 Jan. 30,2010 Jan. 31.2009 $ 3,468,777 $2.928.626 53.484058 1,256,596 1.045.028 1.152.963 2.212.181 1.88598 2.331,095 1.589,501 1.425.950 1.436 36 400.804 353269 405,243 10.056 13.533 8.773 231.932 117,912 498 262 3.362 11.598) 228.570 119.510 509,644 78.287 40557 201.475 350 283 78953 308. 169 (78.699) (35.914) $150.283 $256 $ 272.255 Forecast Abercrombie & Fitch's fiscal 2012 income statement assuming the following income statement relations. All percentages, Income taxes are based on percent of net sales. (Round your answers to the nearest whole number.) Net Sales growth 10% Cost of Goods Sold/Net sales 36% Stores and distribution experse/Net Marketing, general and administrative expense/Net als 52% Other operating Income.net 19.056 Interest Expense Income.net Taxe pense from continuing operations of pret income) Netloss from discontinued operations net ofte O 2012 3815655 1373636 2442019 1759201 Round answers to the nearest whole number . Do not use negative signs with your answers. Forecasted Income Statement, For Fiscal Years Ended (5 thousanda) 2011 Net sales $2.468.7775 Cost of goods sold 1.256.596 Gross profit 2.212.181 Stores and distribution expense 1.589,501 Marketing general and administrative expense 400,304 Other operating income, net 10.056 Operating income 231.932 Interest expense income.net 2363 Income from continuing operations before tres 228.570 Tax expense from continuing operations 73.287 Net income from continuing operations 150-200 Nettons from discontinued operations inet oftand Net Income 5 150,2835 457879 10056 23995 3362 275623 22401 159956