Understanding income statement relationships—Levi Strauss&Co. Following are selected data from the November 30, 2008, and November 25, 2007, consolidated balance sheets and income statements for the years then ended for Levi Strauss&Co. and Subsidiaries. All amounts are reported in thousands.
| 2008 | 2007 |
Net revenues | . . . . $4,400,914 | $ |
Cost of goods sold | . . . . ? | 2,318,883 |
Gross profit | . . . . 2,139,802 | 2,042,046 |
Selling, general, administrative, and other operating |
|
|
expenses, net | . . . . ? | 1,401,005 |
Operating income | . . . . ? | ? |
Interest expense and other expenses, net | . . . . 156,903 | 265,415 |
Income before income taxes | . . . . 368,169 | ? |
Income tax expense (benefit) | . . . . ? | (84,759) |
Net income | . . . . $ 229,285 | $ 460,385 |
As at November 30 and 25, respectively: |
|
|
Total assets | . . . . $2,776,875 | $ ? |
Total liabilities | . . . . 3,125,800 | 3,244,575 |
Total stockholders’ deficit | . . . . ? | (393,909) |
Required:
Calculate the missing amounts for each year.
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