Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question: 6. value: 8.00 points Aeropostale, Inc., is a mall-based specialty retailer of casual apparel and accessories. The company concept is to provide the customer

Question: 6. value: 8.00 points 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$1,221,349Interest expense 700Net revenue 2,065,531Other selling, general, and administrative expenses 394,883Provision for income taxes 82,387Weighted average shares outstanding 59,832 Required:

a. Prepare a classified (multiple-step) consolidated income statement (showing gross profit, operating income, and income before income taxes). Include a presentation of basic earnings per share. (Enter your answers in thousands not in dollars. Round "Basic earnings per share" to 2 decimal places.)

image text in transcribed

Required a. Prepare a classified (multiple-step) consolidlated income statement (show RoundBasic earninggs per share" to 2 decilmal places armings per share. (Enter your answers in thousands not in dollars Consolidated Statement of Income In Thousands Except Per Share Amounts) Total operating expenses Eamings per sharc Basic earnings per Weighted average shares outstanding share b. What the gross profit percentage? (Enter your answer as a percentage rounded to 1 decimal place (i.., 0.123 should be entered as 12.3).) oss profit percentag%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting And Reporting

Authors: Barry Elliott, Jamie Elliott

19th Edition

1292255994, 9781292255996

More Books

Students also viewed these Accounting questions