Abercrombie & Fitch reports the following fiscal year income statements. Forecast Abercrombie & Fitch's 2007 income statement assuming the following income statement relations ($ 000s); cost of goods sold can be inferred as sales minus gross profit, and assume no change for all other accounts not listed below. 

Net sales growth 37.8% 

Gross profit margin 66.5% 

Stores and distribution expenses/Net sales 35.9% 

Marketing, general and administrative expense/Net sales 11.3% 

Other operating income, net/Net sales -0.2% 

Provision for income taxes/Income before income taxes 39.2% 

Interest income, net no change 

What is the forecasted net income for 2007? Select one: 

A. $3,837,332,000 

B. $333,986,000 

C. $126,246,000 

D. $459,012,000

Answer rating: 100% (QA)

D E 2016 2017 2017 Calcuation 2 Sales 3 Cost of goods sold 4 ... View the full answer