Use the income statement to respond to the following items:

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jan. 31, 2021	Feb. 02, 2020
Current assets
Cash and cash equivalents	$ 1,150,517	$ 1,093,505
Accounts receivable	62,399	40,219
Inventories	647,230	518,513
Prepaid and receivable income taxes	139,126	85,159
Prepaid expenses and other current assets	125,107	70,542
Total current assets	2,124,379	1,807,938
Property and equipment, net	745,687	671,693
Right-of-use lease assets	734,835	689,664
Goodwill	386,877	24,182
Intangible assets, net	80,080	241
Deferred income tax assets	6,731	31,435
Other non-current assets	106,626	56,201
Total assets	4,185,215	3,281,354		7,466,569	3,733,285	15.77%	ROA
Current liabilities
Accounts payable	172,246	79,997
Accrued inventory liabilities	14,956	6,344
Other accrued liabilities	211,911	112,641
Accrued compensation and related expenses	130,171	133,688
Current lease liabilities	166,091	128,497
Current income taxes payable	8,357	26,436
Unredeemed gift card liability	155,848	120,413
Other current liabilities	23,598	12,402
Total current liabilities	883,178	620,418
Non-current lease liabilities	632,590	611,464
Non-current income taxes payable	43,150	48,226
Deferred income tax liabilities	58,755	43,432
Other non-current liabilities	8,976	5,596
Total liabilities	1,626,649	1,329,136
Commitments and contingencies
Stockholders' equity
Undesignated preferred stock, $0.01 par value: 5,000 shares authorized; none issued and outstanding	0	0
Exchangeable stock, no par value: 60,000 shares authorized; 5,203 and 6,227 issued and outstanding	0	0
Special voting stock, $0.000005 par value: 60,000 shares authorized; 5,203 and 6,227 issued and outstanding	0	0
Common stock, $0.005 par value: 400,000 shares authorized; 125,150 and 124,122 issued and outstanding	626	621
Additional paid-in capital	388,667	355,541
Retained earnings	2,346,428	1,820,637
Accumulated other comprehensive loss	(177,155)	(224,581)
Total stockholders' equity	2,558,566	1,952,218		4,510,784	2,255,392	26.11%	ROE
Total liabilities and stockholders' equity	$ 4,185,215	$ 3,281,354

a) What are the major expenses? What percentage of total revenue does each represent?

b) Are there any unusual or discontinued items reported on the income statement? If so, are they large in magnitude?

c) Was the company more or less profitable when compared with the prior year?

Answer rating: 100% (QA)

a The major expenses are 1 Cost of goods sold this represents the cost of the goods that the company sells This includes the cost of the raw materials ... View the full answer