Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Use the income statement to respond to the following items: CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands Jan. 31, 2021 Feb. 02, 2020
Use the income statement to respond to the following items:
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jan. 31, 2021 | Feb. 02, 2020 | |||||
Current assets | |||||||
Cash and cash equivalents | $ 1,150,517 | $ 1,093,505 | |||||
Accounts receivable | 62,399 | 40,219 | |||||
Inventories | 647,230 | 518,513 | |||||
Prepaid and receivable income taxes | 139,126 | 85,159 | |||||
Prepaid expenses and other current assets | 125,107 | 70,542 | |||||
Total current assets | 2,124,379 | 1,807,938 | |||||
Property and equipment, net | 745,687 | 671,693 | |||||
Right-of-use lease assets | 734,835 | 689,664 | |||||
Goodwill | 386,877 | 24,182 | |||||
Intangible assets, net | 80,080 | 241 | |||||
Deferred income tax assets | 6,731 | 31,435 | |||||
Other non-current assets | 106,626 | 56,201 | |||||
Total assets | 4,185,215 | 3,281,354 | 7,466,569 | 3,733,285 | 15.77% | ROA | |
Current liabilities | |||||||
Accounts payable | 172,246 | 79,997 | |||||
Accrued inventory liabilities | 14,956 | 6,344 | |||||
Other accrued liabilities | 211,911 | 112,641 | |||||
Accrued compensation and related expenses | 130,171 | 133,688 | |||||
Current lease liabilities | 166,091 | 128,497 | |||||
Current income taxes payable | 8,357 | 26,436 | |||||
Unredeemed gift card liability | 155,848 | 120,413 | |||||
Other current liabilities | 23,598 | 12,402 | |||||
Total current liabilities | 883,178 | 620,418 | |||||
Non-current lease liabilities | 632,590 | 611,464 | |||||
Non-current income taxes payable | 43,150 | 48,226 | |||||
Deferred income tax liabilities | 58,755 | 43,432 | |||||
Other non-current liabilities | 8,976 | 5,596 | |||||
Total liabilities | 1,626,649 | 1,329,136 | |||||
Commitments and contingencies | |||||||
Stockholders' equity | |||||||
Undesignated preferred stock, $0.01 par value: 5,000 shares authorized; none issued and outstanding | 0 | 0 | |||||
Exchangeable stock, no par value: 60,000 shares authorized; 5,203 and 6,227 issued and outstanding | 0 | 0 | |||||
Special voting stock, $0.000005 par value: 60,000 shares authorized; 5,203 and 6,227 issued and outstanding | 0 | 0 | |||||
Common stock, $0.005 par value: 400,000 shares authorized; 125,150 and 124,122 issued and outstanding | 626 | 621 | |||||
Additional paid-in capital | 388,667 | 355,541 | |||||
Retained earnings | 2,346,428 | 1,820,637 | |||||
Accumulated other comprehensive loss | (177,155) | (224,581) | |||||
Total stockholders' equity | 2,558,566 | 1,952,218 | 4,510,784 | 2,255,392 | 26.11% | ROE | |
Total liabilities and stockholders' equity | $ 4,185,215 | $ 3,281,354 |
a) What are the major expenses? What percentage of total revenue does each represent?
b) Are there any unusual or discontinued items reported on the income statement? If so, are they large in magnitude?
c) Was the company more or less profitable when compared with the prior year?
Step by Step Solution
★★★★★
3.31 Rating (154 Votes )
There are 3 Steps involved in it
Step: 1
a The major expenses are 1 Cost of goods sold this represents the cost of the goods that the company sells This includes the cost of the raw materials ...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started