Staples, Inc., is a leading office products distributor, with a total of 1,307 retail stores in the United States, Canada, the United Kingdom, the Netherlands, and Portugal. The following financial statement data were taken from Staples’ financial statements as of February3, 2001 and 2000:
|
2001 |
2000 |
|
|
Total assets |
$3,989,413 |
$3,846,076 |
|
Total liabilities |
(1) |
2,017,263 |
|
Total stockholders’ equity |
1,763,830 |
(2) |
|
Retained earnings |
1,008,021 |
948,309 |
|
Sales |
$10,673,671 |
|
|
Cost of goods sold |
8,097,166 |
|
|
Operating and other expenses |
2,332,320 |
|
|
Income tax expense |
184,473 |
a. Determine the missing data indicated for (1) and (2).
b. Using the income statement data for 2001, determine the amount of net income or loss.
c. Did Staples pay any dividends to stockholders during 2001? Hint: Compare the change in retained earnings to your answer for (b).