Following are the income statements and balance sheets of Abercrombie & Fitch Co. a. Forecast Abercrombie &
Question:
Following are the income statements and balance sheets of Abercrombie \& Fitch Co.
a. Forecast Abercrombie & Fitch's fiscal 2014 income statement and balance sheet using the following relations (S in thousands). Assume all capital expenditures are purchases of property and equipment.
b. What does the forecasted adjustment to balance the accounting equation from part a reveal to us about the forecasted financing needs of the company? Explain.
Transcribed Image Text:
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.... February 2, January 28, January 29, 2013 2012 2011 $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 - $ 237,011 796 $4,158,058 1,607,834 2,550,224 2,217,429 1,589,501 1,888,248 437,120 3,472 221,384 3,577 217,807 74,669 143,138 $3,468,777 1,251,348 $ 143,934 400,804 (10,056) 237,180 3,362 233,818 78,109 155,709 $ 155,709
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Financial And Managerial Accounting For MBAs
ISBN: 9781618533593
6th Edition
Authors: Peter D. Easton
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