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I have attached a basic accounting question, instructions are attached. Its Preparing a Multiple-Step Income Statement and Interpreting the Gross Profit Percentage.Thank you! Aeropostale, Inc.,
I have attached a basic accounting question, instructions are attached. Its Preparing a Multiple-Step Income Statement and Interpreting the Gross Profit Percentage.Thank you!
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 a recent year (ended March 31) are presented here (dollars in thousands) in alphabetical order: Cost of goods sold $ 1,071,349 Interest expense 700 Net revenue 1,905,531 Other selling, general, and administrative expenses 385,883 Provision for income taxes 92,387 Weighted average shares outstanding 66,832 Required: a Prepare a multiple-step consolidated income statement with a presentation of basic earn . share. (Enter your answers in thousands not in dollars. Round "Basic earnings pe decimal places.) A. AEROPOSTALE, INC. Consolidated Statement of Income For Year Ended March 31, Current Year (In Thousands Except Per Share Amounts) 1 2 3 4 5 6 Total operating expenses 7 8 9 10 11 12 13 Earnings per share: Basic earnings per share Weighted average shares outstanding Options for # 1, 2, 3, 5, 6, 8, 9, 11, 12 use Accounts payable Accounts receivable Accrued expenses payable Accumulated depreciation Accumulated depreciation, automobiles Accumulated depreciation, office equipment Acquisition-related charges Additional paid-in capital Advertising expense Amortization of purchased intangible assets Automobiles Cash Common stock Cost of financing Cost of goods sold Cost of services Depreciation expense Equipment Financing income Goodwill Income taxes payable Intangible assets Interest expense Inventory Investments Net revenues Notes payable Office supplies Operating income Other assets Other current assets Other current debt Other noncurrent liabilities Other operating expenses Other payables and accrued liabilities Other selling, general and administration expenses Prepaid expenses Prepaid rent Property, plant and equipment, net Provision for income taxes Research and development expense Restructuring charges Retained earnings Salaries payable Option for #4 use Gross profit or Gross loss Option for # 7 use Operating income or Operating loss Option for # 10 use Income before income taxes or Loss before income taxes Option for # 13 use Net income or Net loss B. What is the gross profit percentage? (Round your answer to 1 decimal place.)Step by Step Solution
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