Use the statements of income for GameStop Corp. to perform a horizontal analysis for each item reported
Question:
Use the statements of income for GameStop Corp. to perform a horizontal analysis for each item reported for the year from February 2, 2008, to January 31, 2009. What does your analysis tell you about the operations of GameStop Corp. for the yearsreported?
Transcribed Image Text:
GameStop Corp. Consolidated Statements of Operations in thousandb, except per share data 53 Weeks Ended 52 Weeks Ended January 31, 2009 52 Weeks Ended February 2,February 3, 2008 2007 Cost of sales 6535762 Gross profit.._.. ..__ . Selling, general and administrative ..2,270,135 1,813,707 1,471,442 Depreciation and amortization 145,004 130,270 109,862 4,593 6,788 Interest income...11,619 (13,779) (11,338) 50,456 Interest expense Debt extinguishment expense . 84,662 254,296 $398282 288 291 158260 61,553 . Earnings before income tax expense. 633,951 441,056 235,669 Net earnings per common sharebasie .244 163,190 .2.38 167,671 1.82 1.06 Weighted average shares of common Net earnings per common share-dlluted Weighted average shares of common 1.75 $ 1.00 stock diluted.. 164,844 158,284
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 82% (17 reviews)
Revenues and costs of sales increased at a level pace in 2009 However v...View the full answer
Answered By
Vincent Omondi
I am an extremely self-motivated person who firmly believes in his abilities. With high sensitivity to task and operating parameters, deadlines and keen on instructions, I deliver the best quality work for my clients. I handle tasks ranging from assignments to projects.
4.90+
109+ Reviews
314+ Question Solved
Related Book For
Financial Accounting: A Business Process Approach
ISBN: 978-0136115274
3rd edition
Authors: Jane L. Reimers
Question Posted:
Students also viewed these Accounting questions
-
What does your interview tell you about the role expectations and role behavior? To identify roles and role behavior, interview a married woman who works outside the home and one who does not have an...
-
Use the statements of income for GameStop Corp. to per-form a vertical analysis for each item reported for the two most recent years using sales as the base. What does your analysis tell you about...
-
Perform a horizontal analysis of the MLC balance sheet (Table 4-4). a. Compare assets, liabilities, and owners equity from one year to the next. b. Is the corporation better off in 2013 or in 2012?
-
For the Somerset furniture Company described in Case Problem 10.1 in Chapter 10, determine the product lead time by developing a time line from the initiation of a purchase order to product delivery....
-
An inflow hydrograph is measured for a cross section of a stream. Compute the outflow hydrograph at a point five miles downstream using the Muskingum method. Assume K = 12 hr, x = 0.2, and that...
-
Butler's Roofing Ltd. received an invoice for a purchase of merchandise for $10,000, terms 1/10, n/30. (a) Calculate the cost of missing this purchase discount to Butler's Roofing. (b) Should it take...
-
The efficiency of an ideal machine is 50%. True or False
-
Consider these transactions: (a) Galvao Restaurant accepted a Visa card in payment of a $200 lunch bill. The bank charges a 3% fee. What entry should Galvao make? (b) Stone Company sold its accounts...
-
LeMans Company produces specialty papers at its Fox Run plant. At the beginning of June, the following information was supplied by its accountant Direct materials Inventory Work-in-process inventory...
-
Waltman Co. juet ended its first year of operations. We are hired to help with the company's reporting. The Tableau Dashboard provides data for our analysin. Variable Manufacturing Costs Fixed...
-
International Imports Corporation reported the following for its fiscal year ended June 30, 2011: Sales. $ 640,000 Cost of sales 470,000 Gross margin. 170,000 Expenses.. 94,000 Net income .. $ 76,000...
-
Liquidity ratios. (LO3). Use the financial statements for GameStop Corp. to calculate the following liquidity ratios for the most recent fiscal year: 1. Current ratio 2. Inventory turnover and...
-
At the end of the year, under-or over-applied overhead is closed to Income Summary. Is this correct? If not, indicate the customary treatment of this amount.
-
Explain each of the aspects of the transformation/BPM house, as well as each of the subcomponents, and state why you think they will be important to an enterprise-wide implementation of BPM.
-
The AFL-CIO, the UAW, and the Teamsters are examples of a. illegal organizations. b. labor unions. c. labor relations theories. d. contingent workers.
-
The theory of comparative advantage indicates that a. a country should sell to other countries the products it produces most efficiently and buy from other countries the products that it cannot...
-
The theory that states that specialization and trade are mutually beneficial to all economies involved in trade is called the a. theory of comparative advantage. b. theory of beneficial trade. c....
-
The file named Kingslineups.docx contains performance ratings for some of the Sacramento Kings lineups. Import this data into Excel.
-
Tanning salons use safe UV with a longer wavelength than some of the UV in sunlight. This safe UV has enough photon energy to trigger the tanning mechanism. Is it likely to be able to cause cell...
-
Draw two scatterplots, one for which r = 1 and a second for which r = 21.
-
On the statement of net position prepared at June 30, 20X5, what amount should be reported for net position, unrestricted? a. $1,685,000 b. $1,689,000 c. $1,035,000 d. $1,031,000 The Village of...
-
Define the term assurance.
-
What is IT auditing?
-
Distinguish between conceptual and physical systems.
-
How is a market structure identified? What type of market structure drives the pharmaceutical market?
-
Quality is often described as the fourth triple - constraint ( cost , schedule, and scope being the other three constraints ) . Address this project quality topic by discussing the following key...
-
Image transcription text Moist air flow through a duct which contains a heating element. The moist air enters at 95 kPa, 12 C and (I) = 30%; the flow rate is 6 m3/min. Air leaves the heating element...
Study smarter with the SolutionInn App