Question: Formulating financial statements from raw data Following is selected financial information from Abercrombie & Fitch for its fiscal year ended February 1, 2014 ($ millions):
Formulating financial statements from raw data
Following is selected financial information from Abercrombie & Fitch for its fiscal year ended February 1, 2014 ($ millions):
| Cash assets | 600.1 |
| Net cash from operations | 175.5 |
| Sales | 4116.9 |
| Stockholders equity | 1729.5 |
| Costs of goods sold | 1541.5 |
| Net cash from financing | (40.8) |
| Total liabilities | 1121.5 |
| Other expenses, including income taxes | 2520.8 |
| Noncash assets | 2250.9 |
| Net cash from investing | (173.9) |
| Net income | 54.6 |
| Effect of exchange rate changes on cash | (4.2) |
| Cash, beginning year | 643.5 |
Required
Prepare an income statement, balance sheet, and statement of cash flows for Abercrombie & Fitch.
Determine the owner and creditor financing levels.
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