Chapter 5 - Question 2.pdf - 2 Award 25.00 points Problems Adjust credit for all students P5-5 Preparing a Classied(Multiple-Step Income Statement and

Chapter 5 - Question 2.pdf - 2 Award 25.00 points Problems...

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2.Award: 25.0025.00 pointspointsProblems? Adjust creditfor all students. P5-5 Preparing a Classified (Multiple-Step) Income Statement andP5-5 Preparing a Classied (Multiple-Step) Income Statement andInterpreting the Gross Profit Percentage LO5-3Interpreting the Gross Prot Percentage LO5-3Aeropostale, Inc., is a mall-based specialty retailer of casual apparel and accessories. The companyconcept is to provide the customer with a focused selection of high-quality, active-oriented fashions atcompelling values. The items reported on its income statement for a recent year (ended March 31) arepresented here (dollars in thousands) in alphabetical order:Cost of goods sold$1,131,349Interest expense560Net revenue2,055,531Other selling, general, and administrative expenses401,883Provision for income taxes81,387Weighted average shares outstanding74,832Required:a. Prepare a classified (multiple-step) consolidated income statement (showing gross profit, operatingincome, and income before income taxes). Include a presentation of basic earnings per share. (Enteryour answers in thousands not in dollars. Round "Basic earnings per share" to 2 decimalplaces.)
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$$$+/-0.1%AEROPOSTALE, INC.Consolidated Statement of Income
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