Preparing a Multiple-Step Income Statement
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 | S1,231,349 |
Interest income | 510 |
Net revenue | 1,885,531 |
Other selling, general, and administrative expenses | 405,883 |
Provision for income taxes | 99,387 |
Weighted average shares outstanding | 66,832 |
Required:
Prepare a multiple-step consolidated income statement (showing gross profit, operating income, and income before income taxes). Include a presentation of basic earnings per share.
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