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Forecasting an Income Statement AutoZone Inc. reports the following income statements. Consolidated Statement of Income ($ in Thousands) 12 Months Ended Aug. 27, 2016 Net

Forecasting an Income Statement AutoZone Inc. reports the following income statements.

Consolidated Statement of Income ($ in Thousands) 12 Months Ended Aug. 27, 2016
Net sales $10,635,676
Cost of sales, including warehouse and delivery expenses 5,026,940
Gross profit 5,608,736
Operating, selling, general and administrative expenses 3,548,341
Operating profit 2,060,395
Interest expense, net 147,681
Income before income taxes 1,912,714
Income tax expense 671,707
Net income $1,241,007

Forecast AutoZone's 2017 income statement assuming the following income statement relations ($ in thousands). All percentages, (other than sales growth and provision for income taxes) are based on percent of net sales.

Net sales growth 6%
Cost of sales, including warehouse and delivery expenses 47.3%
Operating, selling, general and administrative expenses 33.4%
Interest expense, net $145,000
Income tax expense (% pretax income) 35%

Round your answers to the nearest whole number.

Do not use negative signs with your answers.

Forecasted Income Statement
($ thousands) 2016 2017 Est.
Net sales $10,635,676

Cost of goods sold 5,026,940

Gross profit 5,608,736

Operating, selling, general, and admin expenses 3,548,341

Operating profit 2,060,395

Interest expense, net (147,681)

Income before income taxes 1,912,714

Income tax expense 671,707

Net income $ 1,241,007

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