Aeropostale Inc is a mall based specialty retailer of casual apparel
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 ................ $ 1,733,916
Interest expense .................... 417
Net revenue ................... 2,342,260
Other selling, general, and administrative expenses .... 494,829
Provision for income taxes ............. 43,583
Weighted average shares outstanding .......... 81,208

Required: Prepare a multiple-step consolidated income statement (showing gross profit, operating income, and income before income taxes). Include a presentation of basic earnings per share. What is the gross profit percentage? Explain its meaning.


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