Abercrombie & Fitch Co. reports the following income statements. Forecast Abercrombie & Fitch's fiscal 2014 income statement
Question:
Abercrombie \& Fitch Co. reports the following income statements.
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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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... Feb. 2, 2013 $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 $4,158,058 1,607,834 - 2,550,224 1,888,248 437,120 3,472 221,384 3,577 217,807 74,669 143,138 Jan. 29, 2011 $3,468,777 1,251,348 2,217,429 1,589,501 400,804 (10,056) 237,180 3,362 233,818 78,109 155,709 796 $ 237,011 $ 143,934 $ 155,709
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Financial And Managerial Accounting For MBAs
ISBN: 9781618533593
6th Edition
Authors: Peter D. Easton
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