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Need Help completing section a and b. Accounting Equation and Income Statement Staples, Inc., (SPLS), is a leading office products distributor, with retail stores in
Need Help completing section a and b.
Accounting Equation and Income Statement Staples, Inc., (SPLS), is a leading office products distributor, with retail stores in the United States, Canada, Asia, Europe, and South America. The following financial statement data were adapted from recent financial statements of Staples: Year 2 Year 1 (in thousands) (in thousands) Total assets $15, 115,821 $15,268,506 Total liabilities (1) 12,214,805 Total stockholders' equity 9,069,493 (2) Sales 27,201,022 Cost of goods sold 16,320,613 Operating expenses 5,048,492 Other expense (net) 233,372 Income tax expense 475,308 Enter amounts in thousands. a. Determine the missing data indicated for (1) and (2). Total liabilities for Year 2 thousand Total stockholders' equity for Year 1 $ thousand b. Using the income statement data for Year 2, determine the amount of net income or net loss. thousandStep by Step Solution
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