Tommy Hilfiger Corporation designs, sources, and markets men’s and women’s sportswear, jeanswear, and childrenswear under the Tommy Hilfiger trademarks. The company prides itself in producing distinctive designs that recognize tradition while adding a fresh, youthful perspective. 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 …………………………………..$1,012,156
Depreciation and amortization ………………………. 76,307
Interest expense ……………………………………… 31,756
Interest income ………………………………………. 3,577
Net revenue ………………………………………….. 1,875,797
Other selling, general, and administrative expenses …. 583,502
Provision for income taxes …………………………… 37,445
Weighted average shares outstanding ………………… 90,692
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.