Reference no: EM131073750
1. Preparing a Multi-step Income Statement and Interpreting the Gross Profit Percentage
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
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$1,071,349
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Interest expense
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580
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Net revenue
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1,985,531
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Other selling, general and administrative expenses
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400,883
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Provision for income taxes
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92,387
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Weight average shares outstanding
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60,832
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Required: Prepare a multiple-step consolidated income statement with a presentation of basic earnings per share.
2. Preparing a Multi-step Income Statement and Interpreting the Gross Profit Percentage
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
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2,025,531
|
Other selling, general and administrative expenses
|
393,883
|
Provision for income taxes
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87,387
|
Weight average shares outstanding
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76,832
|
Required: Prepare a multiple-step consolidated income statement with a presentation of basic earnings per share.
3. Preparing a Statement of Stockholders Equity
At the end of the 2014 annual reporting period, Barnard Corporation's balance sheet showed the following:
BARNARD CORPORATION Balance Sheet At December 31, 2014
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Stockholder's equity
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Contributed capital
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Common stock (par $15; 5,800 shares)
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$87,000
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Paid-in capital
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12,000
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Total contributed capital
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99,000
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Retained earnings
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50,000
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Total stockholder's equity
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$149,000
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During 2015, the following selected transactions (summarized) were completed:
a. Sold and issued 1,200 shares of common stock at $20 cash per share (at year-end).
b. Determined net income, $45,000.
c. Declared and paid a cash dividend of $3 per share on the beginning shares outstanding.
Required: Prepare a statement of stockholder's equity for the year ended December 31, 2015.
Determine the payment to amortize the debt
: Determine the payment to amortize the debt. (Round your answer to the nearest cent.) Monthly payments on $160,000 at 5% for 25 years.
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Prepare a multiple-step consolidated 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. Prepare a multiple-ste..
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Annual inflation rate averaged
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