What are the answers and how to do it

CHAPTER 14 Comprehensive analysis (Learning Objectives 2, 3, & 4) the 14-35A Tomcany s profit performance and financial position with the average for the in The CEO h Block Department Stores' chief executive officer (CEO) has asked you to compare as given you the company's income statement and balance sheet, as well as the industry average data for retailers. Block Department Stores, Inc. Income Statement Compared with Industry Average For the Year Ended December 31 amounts in thousands lock Industry Average 657% 100 0% 6 Sales revenues 7 Less: Cost of goods sold 8 Gross profit 782,000 526,286 19.5% 14.8% 0.5% 14.3% 0.3% 164,220 9 Less Operating expenses 10 Operating income 11 Less Interest expense 12 Income before income taxes 13 Less: Income tax expense 14 Net income 15 1,494 1,173 90,321 5,083 Block Department Stores, Inc. Balance Sheet Compared with Industry Average