It is important to understand how to read anincome statement, whichshowsa company'srevenues,expensesand profit for a period of time.Fora multinational company likelululemon athletica inc.the income statementis referred to astheConsolidatedStatement of Operationsandthe figuresare expressed inthousands of USD.State the followingamountsforlululemon athletica inc.(roundedup or down tothenearest millionexpressed in USD:[1.5marks]

(a)cost of goods soldfor the3rdquarterof fiscal 2020 = $_________million

(b)Gross Profitfor the3rdquarterof fiscal 2020= $______________million

(c)OperatingProfitfor the3rdquarterof fiscal 2020= $___________million

3.Explain the meaning of the term"GrossProfit Margin" andfor lululemon athleticadescribe, using actual figures asa % ofnetrevenues,whetherthe company'smost recently reportedgross profit marginreflects an increase or decrease in the salesdiscounts in3rdquarterof fiscal2020relative tothe3rdquarterfirst six months of fiscal2019.[1.5marks]

4.According toourLogistics textbook,the balance sheet reflects the assets,liabilitiesandowners'equityof a companyat aparticularpoint intime.Forlululemon athletica inc.students will findthe company'scondensed and consolidated BalanceSheetfollowingthecompany's income statement (also expressed in thousands of USD).State thepoint-in-timedateandthebalancesheetamountforlululemon athletica inc.(roundedup or down tothenearest millionexpressed in USD):[1.5marks]

(a)TotalAssets at endof3rdQuarteroffiscal 2020;

(b)TotalInventoriesat end offiscal 2019;

(c)TotalStockholders Equityatendof3rdQuarteroffiscal 2019;

[**Remember to answerall threeQuestionsin format:Date:_________ and $ __________ Million]

5.Understandingthetrendsof financial informationis important forplanning andforecastingpurposes.Reviewthe most recentperformanceresultsforlululemon athletica inc.anddescribeusing sentence answersthe trendand providea possible or probableexplanation for thecurrenttrendin respect ofeach of the followingfinancial statement categories:[1.5marks]

(a)Nete-commercerevenues(also known as Direct to Consumer Net Revenue);

(b)GrossProfit;

(c)OperatingProfit/Selling, General and Administrative expenses