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Income statements and balance sheets follow for The New York Times Company. Refer to these financial statements to answer the requirements.

Answer All parts of the attached question and explain.

Income statements and balance sheets follow for The New York Times Company. Refer to these financial statements to answer the requirements. The New York Times Company Consolidated Statements of Income Fiscal year ended (in thousands) Dec. 29, 2013 Dec. 30, 2012 Operating revenues Circulation $ 824,277 $ 795,037 Advertising 666,687 711,829 Other 86,266 88,475 Total revenues 1,577,230 1,595,341 Production Costs Raw materials 92,886 106,381 Wages and benefits 332,085 331,321 Other 201,942 213,616 Total production costs 626,913 651,318 Selling, general and administrative expenses 706,354 711,112 Depreciation and amortization 78,477 78,980 Total operating costs 1,411,744 1,441,410 Pension settlement expense 3,228 47,657 Multiemployer pension plan withdrawal expense 6,171 0 Other expense 0 2,620 Operating profit 156,087 103,654 Gain on sale of investments 0 220,275 Impairment of investments 0 5,500 (Loss)/income from joint ventures (3,215) 2,936 Premium on debt redemption 0 0 Interest expense, net 58,073 62,808 Income from continuing operations before income taxes 94,799 258,557 Income tax expense 37,892 94,617 Income from continuing operations 56,907 163,940 Discontinued operations: (Loss) from discontinued operations, net of tax (20,413) (113,447) Gain on sale, net of tax 28,362 85,520 Income/(loss) from discontinued operations, net of tax 7,949 (27,927) Net income/(loss) 64,856 136,013 Net (income)/loss attributable to the noncontrolling interest 249 (166) Net income/(loss) attributable to New York Times Company common stockholders 65,105 135,847
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The New York Times Company Consolidated Balance Sheets As of (in thousands) Dec. 29, 2013 Dec. 30, 2012 Cash and cash equivalents $ 482,745 $ 820,490 Short-term investments 364,880 134,820 Accounts receivable, net 202,303 197,589 Deferred income taxes 65,859 58,214 Prepaid assets 20,250 23,085 Other current assets 36,230 26,320 Assets held for sale 0 137,050 Total current assets 1,172,267 1,397,568 Long-term marketable securities 176,155 4,444 Investments in joint ventures 40,213 40,872 Property plant and equipment, net 713,356 773,469 Goodwill, net 125,871 122,691 Deferred income taxes 179,989 302,212 Miscellaneous assets 164,701 166,214 Total assets $2,572,552 $2,807,470 Accounts payable $ 90,982 $ 88,990 Accrued payroll and other related liabilities 91,629 86,772 Unexpired subscriptions 58,007 57,336 Accrued expenses 107,755 118,753 Accrued incomes taxes 138 38,932 Liabilities held for sale 0 32,373 Total current liabilities 348,511 423,156 Long-term debt and capital lease obligations 684,142 696,752 Pension benefits obligation 444,328 737,889 Postretirement benefits obligation 90,602 110,347 Other 158,435 173,690 Total other liabilities 1,377,507 1,718,678 Stockholders’ equity Common stock of $0.10 par value: Class A common stock 15,129 15,027 Class B convertible 82 82 Additional paid-in capital 33,045 25,610 Retained earnings 1,283,518 1,230,450 Common stock held in treasury, at cost (86,253) (96,278) Accumulated other comprehensive income loss), net of tax (402,611) (512,566) Total New York Times Company stockholders’ equity 842,910 662,325 Noncontrolling interest 3,624 3,311 Total stockholders’ equity 846,534 665,636 Total liabilities and stockholders’ equity $2,572,552 $2,807,470
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9320585.xlsx

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NOPAT = Operating income *(1-tax rate)
Operating in Statuatory Tax Rate a 2013 $ 94,799 37.0% 2012 $ 258,557 37% NOA = Operating assets - Operating Liablities
NOA = Operating assets -...

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