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The Max, is a mall-based specialty retailer of casual apparel and accessories. The company concept is to provide the customer with a focused selection of
The Max, 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 an earlier year (ended March 31) are presented here (dollars in thousands) in simplified form in alphabetical order: $1,181,349 Cost of goods sold Interest expense Net revenue Other selling. general, and administrative expenses Provision for Income taxes Weighted average shares outstanding 1,935,531 393,883 61.812 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. b. What is the gross profit percentage? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a clashed multiple-step) consolidated income statement (showing gross profit, operating income, and income before income taves). 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.) THE MAX Consolidated Statement of income in Thousands Except Per Share Amounts Required i Required 2 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.) THE MAX Consolidated Statement of Income (In Thousands Except Per Share Amounts) Earnings per share: Basic earnings per share Weighted average shares outstanding Required 2 > The Max, 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 an earlier year (ended March 31) are presented here (dollars in thousands) in simplified form in alphabetical order: Cost of goods sold Interest expense Net revenue Other selling, general, and administrative expenses Provision for income taxes Weighted average shares outstanding $1,181,349 610 1,935,531 393,883 85,387 61,832 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. b. What is the gross profit percentage? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What is the gross profit percentage? (Enter your answer as a percentage rounded to 1 decimal place (i.e., 0.123 should be Sentered as 12.3.) Gross profit percentage
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