Preparing a Multiple-Step Income Statement and Interpreting the Gross Profit Percentage LO5-3
Aeropostale, Inc., is a mall-based specialty retailer of casual apparel and accessories. The company concept is to provide the customer with a focused selection of high-quality, active-oriented fashions at compelling values. The items reported on its income statement for a recent year (ended March 31) are presented here (dollars in thousands) in alphabetical order:
| Cost of goods sold |
$ |
1,171,349 |
| Interest expense |
|
620 |
| Net revenue |
|
2,025,531 |
| Other selling, general, and administrative expenses |
|
393,883 |
| Provision for income taxes |
|
87,387 |
| Weighted average shares outstanding |
|
76,832 |
Required:
a. Prepare a multiple-step consolidated income statement with a presentation of basic earnings per share. (Enter your answers in thousands not in dollars. Round "Basic earnings per share" to 2 decimal places.)