Question

In: Accounting

prepare a common size income statement from the following income statement: CONSOLIDATED STATEMENTS OF OPERATIONS -...

prepare a common size income statement from the following income statement:

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) 12 Months Ended
shares in Millions, $ in Millions Feb. 01, 2020 Feb. 02, 2019 Feb. 03, 2018
Total net sales $10,716 $11,664 $12,554
Credit income and other 451 355 319
Total revenues 11,167 12,019 12,873
Costs and expenses/(income):
Cost of goods sold (exclusive of depreciation and amortization shown separately below) 7,013 7,870 8,208
Selling, general and administrative (SG&A) 3,585 3,596 3,845
Depreciation and amortization 544 556 570
Real estate and other, net -15 -19 -146
Restructuring and management transition 48 22 184
Total costs and expenses 11,175 12,025 12,661
Operating income/(loss) -8 -6 212
Other components of net periodic pension and postretirement benefit cost/(income) -35 -71 98
(Gain)/loss on extinguishment of debt -1 23 33
Net interest expense 293 313 325
Income/(loss) before income taxes -265 -271 -244
Income tax expense/(benefit) 3 -16 -126
Net income/(loss) ($268) ($255) ($118)
Earnings/(loss) per share:
Basic earnings/(loss) per common share ($0.84) ($0.81) ($0.38)
Diluted earnings/loss per common share ($0.84) ($0.81) ($0.38)
Weighted average shares – basic 320.2 315.7 311.1
Weighted average shares – diluted 320.2 315.7 311.1

Solutions

Expert Solution

ekkarill92 answered 2 years ago
Next > < Previous

Related Solutions

Common-size financial statements. Prepare common-size income statements for Walmart and Starbucks using the January 2015 and...
Common-size financial statements. Prepare common-size income statements for Walmart and Starbucks using the January 2015 and September 2014 information in the popup window: LOADING... . Which company is doing a better job of getting sales dollars to net income? Where is the one company having an advantage over the other company in turning revenue into net income? Complete the table below: (Round to two decimal places. Net income to three decimal places.) Abbreviated Income Statements ($ in Millions) Company Walmart,...
Common-size financial statements. Prepare​ common-size income statements for Walmart and Starbucks using the January 2015 and...
Common-size financial statements. Prepare​ common-size income statements for Walmart and Starbucks using the January 2015 and September 2014 information in the popup​ window: Which company is doing a better job of getting sales dollars to net​ income? Where is the one company having an advantage over the other company in turning revenue into net​ income? Complete the table​ below: (Round to two decimal places. Net income to three decimal​ places.) Abbreviated Income Statements ($ in Millions) Company Walmart, Inc. Starbucks...
Common-size financial statements. Prepare​ common-size income statements for Walmart and Starbucks using the January 2015 and...
Common-size financial statements. Prepare​ common-size income statements for Walmart and Starbucks using the January 2015 and September 2014 information in the popup​ window:   LOADING... . Which company is doing a better job of getting sales dollars to net​ income? Where is the one company having an advantage over the other company in turning revenue into net​ income? Complete the table​ below:  ​(Round to two decimal places. Net income to three decimal​ places.) Abbreviated Income Statements ($ in Millions) Company Walmart,...
Common-Size Income Statements Consider the following income statement data from the Ross Company: 2013 2012 Sales...
Common-Size Income Statements Consider the following income statement data from the Ross Company: 2013 2012 Sales revenue $529,000 $454,000 Cost of goods sold 336,000 279,000 Selling expenses 105,000 99,000 Administrative expenses 64,000 58,000 Income tax expense 11,800 9,400 Prepare common-size income statements for each year. Note: Round answers to one decimal place (ex: 0.2345 = 23.5%). ROSS COMPANY Common-Size Income Statements (Percent of Sales Revenue) 2013 2012 Sales Revenue Answer Answer Cost of Goods Sold Answer Answer AnswerGross Profit on...
Use the following data to prepare a common-size comparative income statement for Old Mill Corporation on...
Use the following data to prepare a common-size comparative income statement for Old Mill Corporation on December 31, 2016. Round percentages to one-tenth percent. 2016 2015 Net sales $1,151,000 $1,350,000 Expenses:    Cost of goods sold $980,000 $860,000    Selling and general expenses 290,000 230,000    Interest expense 59,000 59,000    Income tax expense 71,000 53,000    Total expenses $1,400,000 $1,202,000    Net income $110,000 $148,000
AMERICAN APPAREL: DROWNING IN DEBT?1 Prepare the company’s common-size balance sheets and common-size income statements for...
AMERICAN APPAREL: DROWNING IN DEBT?1 Prepare the company’s common-size balance sheets and common-size income statements for the recent three years 2011-2013 (including all subtotals and totals and round to 2 numbers after the decimal). Analyze three major components based on the common-size balance sheets and the trends of those components over the three years. Analyze two major components based on the common-size income statements and the trends of those components over the three years. Use 10.00% as a threshold.
Question 3 Use the following data to prepare a common-size comparative income statement for Old Mill...
Question 3 Use the following data to prepare a common-size comparative income statement for Old Mill Corporation on December 31, 2016. Round percentages to one-tenth percent. A step by step detail would be most helpful 2016 2015 Net sales $1,151,000 $1,350,000 Expenses:    Cost of goods sold $980,000 $860,000    Selling and general expenses 290,000 230,000    Interest expense 59,000 59,000    Income tax expense 71,000 53,000    Total expenses $1,400,000 $1,202,000    Net income $110,000 $148,000
The Carla Vista Supply Company reported the following information for 2017. Prepare a common-size income statement...
The Carla Vista Supply Company reported the following information for 2017. Prepare a common-size income statement for the year ended June 30, 2017. (Round answers to 1 decimal place, e.g. 52.7%.) Carla Vista Supply Company Income Statement for the Fiscal Year Ended June 30, 2017($ thousands) % of Net Sales Net sales $2,110,000 % Cost of goods sold 1,461,000 % Selling and administrative expenses 312,800 % Nonrecurring expenses 27,200 % Earnings before interest, taxes, depreciation, and amortization (EBITDA) $309,000 %...
A common size income statement for Creek Enterprises 2018 operations follows. Using the firms 2019 income...
A common size income statement for Creek Enterprises 2018 operations follows. Using the firms 2019 income statement presented in 3-16, develop the 2019 common size income statement and compare it with the 2018 statement. (I don't know how to get the answers for the 2019 common size income statement) 2018 common size income statement: Sales Revenue ($35,000,000) 100% Less: Cost of goods sold 65.9            Gross Profits 34.1 Less: Operating expenses            Selling expense 12.7%            General and administrative expenses...
Common size statements: the following are income statements for Lowe's and Home depot for the years...
Common size statements: the following are income statements for Lowe's and Home depot for the years ended February 3, 2012 and January 29, 2012, respectively: 1. The companies do not use exactly the same account titles. Align the accounts accross two companies int he manner you beleive to be the most appropriate. Then prepare common-size income statemens for Lowe's and The Home Depot. 2. Compare the two companies by using the common-size statements. The income statements for the two companies...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT