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recasting Financial S Net sales growth. Cost of goods sold/Net sales. Stores and distribution expense/Net sales Marketing, general and administrative expense/Net sales Other operating income,
recasting Financial S Net sales growth. Cost of goods sold/Net sales. Stores and distribution expense/Net sales Marketing, general and administrative expense/Net sales Other operating income, net Interest expense (income), net. 1.10 37% 44% 11% $(19,333) $7,288 35% 0 Tax expense from continuing operations (% of pretax income). Net loss from discontinued operations (net of taxes). M11-11. Forecasting an Income Statement (LO2) Abercrombie & Fitch Co. reports the following income statements, ROMBIE CH CO. IF) Feb. 2, 2013 $3,468,777 1,251,348 2,217,429 Income Statement, For Fiscal Years Ended ($ thousands) Net sales..... Cost of goods sold. Gross profit... Stores and distribution expense.. Marketing, general and administrative expense. Other operating expense (income), net. Operating income.... Interest expense, net.. Income from continuing operations before taxes.. Tax expense from continuing operations.. Net income from continuing operations... Income from discontinued operations, net of tax Net Income... $4,510,805 1,694,096 2,816,709 1,987,926 473,883 (19,333) 374,233 7,288 366,945 129,934 237,011 Jan. 28, 2012 Jan. 29, 2011 $4,158,058 1,607,834 2,550,224 1,888,248 1,589,501 437,120 400,804 3,472 (10,056) 221,384 237,180 3,577 3,362 217,807 233,818 74,669 78,109 143,138 155,709 796 $ 237,011 $ 143,934 $ 155,709 Forecast Abercrombie & Fitch's fiscal 2014 income statement assuming the following income statement relations ($ in thousands). All percentages, other than sales growth and provision for income taxes, are based on percent of net sales
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