tutorial_5 - P5-5.TOMMY HILFIGER CORPORATIONConsolidated...

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Unformatted text preview: P5-5.TOMMY HILFIGER CORPORATIONConsolidated Statement of Income For Year Ended March 31, Current YearIn Thousands Except Per Share Amounts Net revenue$1,875,797Cost of goods sold1,012,156Gross profit863,641Depreciation and amortization76,307Other selling, general and administrative expenses583,502Total operating expenses659,809Operating income 203,832Interest expense31,756Interest income3,577Income before income taxes175,653Provision for income taxes37,445Net income$138,208Earnings per share:Basic earnings per share$1.52Weighted average shares outstanding90,692P5-7.Req. 1.TransactionGross ProfitOperating Income (Loss)Return on Equitya.+++b.NEc.NENEd.NENE+The effects of the transactions can be seen by making the related journal entries and using CA, CL, SE, R, and E to denote current asset, current liability, shareholders equity, revenue, and expense, respectively.a.* Accounts receivable (+CA) ............................................................500Sales revenue (+R) ...................................................................500....
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This note was uploaded on 05/10/2011 for the course ACCT 1002 taught by Professor Ng during the Spring '11 term at National University of Singapore.

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tutorial_5 - P5-5.TOMMY HILFIGER CORPORATIONConsolidated...

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