a. 1. Comment on the principles of consolidation. 2. Does it appear that there is a 100%
Question:
a. 1. Comment on the principles of consolidation.
2. Does it appear that there is a 100% ownership in all consolidated subsidiaries?
b. Comment on the use of estimates.
c. Would you expect an impairment in marketable securities?
d. What type of ‘‘special item'' would be costs on early extinguishment debt?
Transcribed Image Text:
PERRY ELLIS INTERNATIONAL, INC., AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS For The Years Ended January 31, (Amounts in thousands, except per share data) 2009 2008 2007 Revenues Net sales 825,868 25,429 851,297 573,046 278,251 S838.465 25,401 863,866 572,232 291,634 S 807,616 Royalty income Total revenues Cost of sales Gross pofit Operating expenses 829,842 554,046 275,796 Selling, general, and administrative expenses 236,840 14,784 22.299 273.923 4,328 215,873 13,278 204,883 11,608 Depreciation and amortization Impairment on long-lived assets Total operating expenses 229,151 62,483 216.491 59,305 2,963 Operating income Costs on early extinguishment of debt Impairment on marketab le securities Interest expense (Loss) income before minority interest and income tax 2,797 17.491 17.594 44,889 931 15,785 S 28,173 35,228 508 12,311 S 22.409 (15,960) DrOviSion Minority interest Income tax (benefit) provision Net (loss) income Net (loss) income per share 612 S (12,890) Basic Diluted S (0.89) S (0.89) S 1.92 S 1.80 $ 1.55 $ 1,45
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 73% (15 reviews)
a 1 When a parent company ...View the full answer
Answered By
Amos Kiprotich
I am a wild researcher and I guarantee you a well written paper that is plagiarism free. I am a good time manager and hence you are assured that your paper will always be delivered a head of time. My services are cheap and the prices include a series of revisions, free referencing and formatting.
4.90+
15+ Reviews
21+ Question Solved
Related Book For
Financial Reporting and Analysis Using Financial Accounting Information
ISBN: 978-1439080603
12th Edition
Authors: Charles H Gibson
Question Posted:
Students also viewed these Accounting questions
-
What behavioral and communication objectives does it appear that Hellman's achieved?
-
Does it appear that Father Daniel Mary has set definite objectives and performance targets for achieving his vision?
-
Would you expect an ostrich to excrete excess nitrogen as uric acid, urea, or ammonia? Make an argument for your answer.
-
Read the following facts and then choose the correct option below: X acts as an interpreter in a transaction where Y wants to buy stolen goods from Z. X's conduct is considered to be that of a/an: a....
-
Refer to the 2008 balance sheet for Consolidated Edison, reproduced in Exhibit 3-6 on pages 3-17 and 3-18. 1. Compute the following financial ratios for Consolidated Edison for 2008: (a) Debt ratio...
-
Using the data in Exercise 9-11, assume that the allowance for doubtful accounts for Renegade Co. had a debit balance of $3,500 as of December 31, 2008. Journalize the adjusting entry for...
-
At the beginning of April one year, the silver forward prices (in cents per troy ounce) were as follows: The carrying cost of silver is about 20 cents per ounce per year, paid at the beginning of...
-
What is a CAFR? What are its main components?
-
W Nov. 8 8 11 11 13 14 16 Natalie cashes her U.S. Savings Bonds and receives $630, which she deposits in her personal bank account. She opens a bank account under the name "Cookie Creations" and...
-
The accounts below all have normal balances. Service Fees $40,650 Accounts Receivable 18,000 Rent Expense 3,700 Utilities Expense 1,400 Alana, Capital 42,100 Alana, Drawing 2,700 Wages Expense 18,300...
-
a. Would you consider the presentation to be a multiple-step income statement or a single-step income statement? Comment. b. Does it appear that there is a 100% ownership in all consolidated...
-
On October 15, 1990, United Airlines (UAL Corporation) placed the largest wide-body aircraft order in commercial aviation history60 Boeing 747-400s and 68 Boeing 777swith an estimated value of $22...
-
Latimer Manufacturing Company expects to make 72,000 travel sewing kits during 2015. In January, the company made 1,800 kits. Materials and labor costs for January were $7,200 and $9,000,...
-
Three main modules included in the NetBeans IDE are: NetBeans Profiler, GUI Design Tool and NetBeans JavaScript Editor. (True/False)
-
Explain the advantages of using the NetBeans Module for Java project development.
-
To add new components or tools into the NetBeans IDE, one can use . a. The JFrame tool b. Plugins c. The PHP tool d. JavaFX
-
By using the __________ method, we can get a collection of information about the structure and properties of the returned ResultSet object. a. getResultSetMetaData() b. getResultSet() c....
-
To create data Tables in an Oracle Server database, the data type for an image field can be a binary large object (BLOB). (True/False)
-
Why are VLAs useful as function parameters?
-
At Glass Company, materials are added at the beginning of the process and conversion costs are added uniformly. Work in process, beginning: Number of units Transferred - in costs Direct materials...
-
What are the most important considerations for the relationships between boards of directors and DMOs?
-
On January 1, 2007 the Parkway Company adopted a defined benefit pension plan. At that time, the company awarded retroactive benefits to its employees, resulting in an unrecognized prior service cost...
-
When Turner Company adopted its defined benefit pension plan on January 1, 2007, it awarded retroactive benefits to its employees. These retroactive benefits resulted in an unrecognized prior service...
-
The Lane Company was incorporated in 1998. Because it had become successful, the company established a defined benefit pension plan for its employees on January 1, 2007. Due to the loyalty of its...
-
An analysis of the activities needed to produce each product has been conducted. In addition, estimates have been developed. These are in the table below. Match the OH rate with the activity for each...
-
Service business 1. You are required to form a small business (Service business) 2. Explain the name and nature of the business, location, mission and objectives of the company. Assume the business...
-
Cost of utilities Cost per month (In dollars) $20,000 4. The cost of utilities depends on how many wards the hospital needs to use during a particular month. During months with activity under 2,000...
Study smarter with the SolutionInn App