Examine MWWs income statement and Note 14 (pages A-46 and A-61) to the financial statements and respond

Question:

Examine MWW’s income statement and Note 14 (pages A-46 and A-61) to the financial statements and respond to the following:

a. What were total combined corporate and franchise sales during fiscal 2001?

Where does this amount appear on the year ended January 27, 2001 income statement?

b. What were sales by MWW’s company-owned stores during fiscal 2001?

c. What were sales by Mark’s Work Wearhouse and Work World franchise stores during fiscal 2001?

d. Why does MWW not include sales by its franchise stores in the calculation of net income?

e. Why does MWW disclose sales by franchise stores on its income statement and in the notes to the financial statements?

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