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7-fitch - Abercrombie Fitch Co-Transactions and Financial...

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Abercrombie & Fitch Co.—Transactions and Financial Statements Dupont ROE = NI = NI × EBT × EBIT × Sales × Assets Model CSE EBT EBIT Sales Assets CSE Food Lion - 1996 0.169 = 0.610 × 0.808 × 0.046 × 2.582 × 2.869 A&F - FY98 0.548 = 0.600 × 1.019 × 0.205 × 2.556 × 1.715
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Abercrombie & Fitch Co.—Transactions and Financial Statements a . Cash and Equivalents Store Supplies Beg. bal. 42,667 Beg. bal. 5,592 705 ( 12b ) ( 3 ) 800,000 ( 2 ) 1,000 ( 5 ) 13,398 514,114 ( 6 ) End bal. 5,887 ( 7 ) 23,785 50,000 ( 8 ) 908 (10) Receivable from The Limited 151,264 ( 11 ) Beg. bal. 23,785 End bal. 163,564 23,785 ( 7 ) End bal. 0 Accounts Receivable Beg. bal. 1,695 Other Current Assets ( 3 ) 15,804 13,398 ( 5 ) Beg. bal. 1,296 1,005 ( 12c ) End bal. 4,101 ( 11 ) 400 End bal. 691 Inventories Beg. bal. 33,927 465,000 ( 4 ) Property & Equipment (net) ( 1 ) 481,918 6,853 ( 12a ) Beg. bal. 70,517 End bal. 43,992 ( 9 ) 39,987 20,946 ( 12d ) End bal. 89,558 Accounts Payable Beg. bal. 15,968 Deferred Income Taxes ( 6 ) 514,114 481,918 ( 1 ) Beg. bal. 3,759 1,000 ( 2 ) ( 11 ) 6,978 39,987 ( 9 ) End bal. 24,759 End bal. 10,737 Accrued Expenses Other Assets Beg. bal. 35,143 Beg. bal. 0 25,054 ( 11 ) 3,685 ( 12e ) ( 11 ) 631 End bal. 63,882 End bal. 631 Income Taxes Payable Long-Term Debt Beg. bal. 15,851 Beg. bal. 50,000 17,736 ( 11 ) ( 8 ) 50,000 End bal. 33,587 End bal. 0 Other Long-Term Liabilities Common Stock Beg. bal. 7,501 Beg. bal. 511 3,327 ( 11 ) 6 ( 11 ) End bal. 10,828 End bal. 517 Paid-in Capital Retained Earnings (Deficit) Beg. bal. 117,972 Beg. bal. 58,931 26,170 ( 11 ) 102,062 ( 13 ) End bal. 144,142 End bal. 43,131 Treasury Stock Beg. bal. 777 ( 10 ) 908 End bal. 1,685 Abercrombie & Fitch Co.—Transactions and Financial Statements 1
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Sales Beg. bal. 0 ( 13 ) 815,804 815,804 ( 3 ) End bal. 0 COGS, Occupancy, and Buying Costs Investment Income, net Beg. bal. 0 Beg. bal. 0 ( 4 ) 465,000 471,853 ( 13 ) ( 13 ) 3,144 3,144 ( 11 ) ( 12a ) 6,853 end bal. 0 End bal. 0 Provision for Income Taxes (Expense) General, Administrative, & Store Operating Expenses beg. bal. 0 Beg. bal. 0 ( 11 ) 68,040 68,040 ( 13 ) ( 11 ) 150,652 176,993 ( 13 ) ( 12b ) 705 ( 12c ) ( 12d ) 1,005 20,946 end bal. 0 ( 12e ) 3,685 end bal. 0 Note: these T-accounts include the adjusting and closing entries from parts c and f. The unadjusted trial balance in part b excludes those entries. The adjusted trial balance excludes the closing entry.
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