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Please help! can't seem to find the right answers despite using the same formulas. Please provide an explanation for this problem. b. Prepare an income
Please help! can't seem to find the right answers despite using the same formulas. Please provide an explanation for this problem.
b. Prepare an income statement forecast for the fiscal year 2015 (ending January 30, 2016), based on the following assumptions: - Net sales total $19,000 million. - Cost of goods sold and occupancy expenses are 64% of sales. - Operating expenses total 26% of sales. - Interest income and interest expense are unchanged from the 2014 amounts. - The Gap's effective tax rate is 39\%. Round answers to the nearest dollar. Use rounded answers for subsequent calculations. Use a negative sign with your interest income answer only
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