Understanding income statement relationships—Levi Strauss & Co. Following are selected data from the November 30, 2008, and November 25, 2007, consolidated balance sheets and income statements for the years then ended for Levi Strauss & Co. and Subsidiaries. All amounts are reported in thousands.
|
2008 |
2007 |
|
|
Net revenues |
$4,400,914 |
$ |
|
Cost of goods sold |
? |
2,318,883 |
|
Gross profit |
2,139,802 |
2,042,046 |
|
Selling, general, administrative, and other operating expenses, net |
? |
1,401,005 |
|
Operating income |
? |
? |
|
Interest expense and other expenses, net |
156,903 |
265,415 |
|
Income before income taxes |
368,169 |
? |
|
Income tax expense (benefit) |
? |
84,759 |
|
Net income |
$229,285 |
$460,385 |
|
As at November 30 and 25, respectively: |
||
|
Total assets |
$2,776,875 |
$ ? |
|
Total liabilities |
3,125,800 |
3,244,575 |
|
Total stockholders’ deficit |
? |
393,909 |