Preparing a Multiple-Step 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. 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 |
$1,231,349 |
|
Interest income |
510 |
|
Net revenue |
1,885,531 |
|
Other selling, general, and administrative expenses |
405,883 |
|
Provision for income taxes |
99,387 |
|
Weighted average shares outstanding |
66,832 |
Required:
Prepare a multiple-step consolidated income statement (showing gross profit, operating income, and income before income taxes). Include a presentation of basic earnings per share.