| 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 | $ | 1,211,349 |
| Interest expense | 590 | |
| Net revenue | 2,015,531 | |
| Other selling, general, and administrative expenses | 402,883 | |
| Provision for income taxes | 89,387 | |
| Weighted average shares outstanding | 61,832 | |
| Required: | |
| a. | Prepare a multiple-step consolidated income statement with a presentation of basic earnings per share. (Enter your answers in thousands not in dollars. Round “Basic earnings per share” to 2 decimal places.) |
1
| Aéropostale Inc | ||
| multi-step income statement. | ||
| Particular | Amount in $ | Amount in $ |
| Sales | 2015531 | |
| Less: | ||
| Cost of goodws sold | 1211349 | 1211349 |
| Gross Profit | 804182 | |
| Less: | ||
| Operating expenses | ||
| Other selling, general, and administrative expenses |
402883 | 402883 |
| Operating Income | 401299 | |
| Less: | ||
| Non Operating expenses | ||
| Interest expense | 590 | 590 |
| Profit before tax | 400709 | |
| Less: | ||
| Provision for income taxes | 89387 | |
| Profit After Tax | 311322 | |
| PAT | 311322 | |
| Weighted average shares outstanding | 61,832 | |
| basic earnings per share | 5.035 | |
