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Need assistance . lo follow is the 2021 infome stalement of Carmen's imports, Inc. (Cick the rcon to vitw the ificomon statertwert) A tie ampunt
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lo follow is the 2021 infome stalement of Carmen's imports, Inc. (Cick the rcon to vitw the ificomon statertwert) A tie ampunt d thousand Carmen's Imports, Inc. Consolidated Statement of Operations (Adapted) Year Ended (In thousands except per share amounts) Net sales Operating costs and expenses: Cost of sales (including buying and store occupancy costs) Selling, general, and administrative expenses Depreciation and amortization Total operating costs and expenses Operating income (loss) \begin{tabular}{rr} 1,121,290 & 1,045,180 \\ 549,750 & 526,550 \\ 55,762 & 48,250 \\ \hline 1,726,802 & 1,619,980 \\ \hline 98,541 & 186,313 \end{tabular} Nonoperating (ifcome) and expenses: Interest and investment income Interest expense Interest income, net Income (loss) from continuing operations before income taxes Operating income (loss) \begin{tabular}{l|l} 98,541 & 186,313 \end{tabular} Nonoperating (income) and expenses: Interest and investment income Interest expense Interest income, net Income (loss) from continuing operations before income taxes Provision (benefit) for income taxes Inceme (loss) from continuing operations Discontinued operations Income (loss) from discontinued operations Net income (loss) \begin{tabular}{rr} 240 & (2,200) \\ \hline$62,742 & $120,005 \\ \hline \hline \end{tabular} Earnings (loss) per share from continuing opecations: Basic Eamings (loss) per share from discontinued operations: Basic Earnings (loss) per share: Basic Requirements 1. How much gross profit did Carmen earn on the sale of its products in 2021 ? How much was income from continuing operations? How much net income did the company earn? 2. At the end of 2021, what dollar amount of income would most sophisticated investors use to predict Carmen's Imports' net income for 2022 and beyond? Name this item, give its amount, and state your reason Step by Step Solution
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