(Answered) Preparing a multiple-step income statement and interpreting

Accounting

Preparing a Multiple-Step Income Statement and Interpreting the Gross Profit Percentage LO5-3

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	$	1,171,349
Interest expense		620
Net revenue		2,025,531
Other selling, general, and administrative expenses		393,883
Provision for income taxes		87,387
Weighted average shares outstanding		76,832

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.)

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