Just for Feet Case Essay

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1. Prepare common-sized balance sheet and income statement for just for feet for the period 1996-1998. Just For Feet, INC. Consolidated Statements Of Earnings (000s omitted) | | Years Ended January 31, | | | 1999 | | 1998 | | 1997 | | Net sales | $774,863 | 100.00% | $478,638 | 100.00% | $256,397 | 100.00% | Cost of sales | $452,330 | 58.38% | $279,816 | 58.46% | $147,526 | 57.54% | Gross profit | $322,533 | 41.62% | $198,822 | 41.54% | $108,871 | 42.46% | | | | | | | | Other revenues | $1,299 | 0.17% | $1,101 | 0.23% | $581 | 0.23% | | | | | | | | Operating expenses: | | | | | | | Store operating | $232,505 | 30.01% | $139,659 | 29.18% | $69,329 | 27.04% | Store opening costs | $13,669 | 1.76% | $6,728 | 1.41% | $11,240 | 4.38% | Amortization of intangibles | $2,072 | 0.27% | $1,200 | 0.25% | $180 | 0.07% | General and administrative | $24,341 | 3.14% | $18,040 | 3.77% | $7,878 | 3.07% | Total operating expenses | $272,587 | 35.18% | $165,627 | 34.60% | $88,627 | 34.57% | Operating income | $51,245 | 6.61% | $34,296 | 7.17% | $20,825 | 8.12% | | | | | | | | Interest expenses | -$8,059 | -1.04% | -$1,446 | -0.30% | -$832 | -0.32% | Interest income | $143 | 0.02% | $1,370 | 0.29% | $4,750 | 1.85% | Earnings before income taxes and cumulative effect of change in accounting principle | $43,329 | 5.59% | $34,220 | 7.15% | $24,743 | 9.65% | | | | | | | | Provision for income taxes | $16,681 | 2.15% | $12,817 | 2.68% | $8,783 | 3.43% | Earnings before cumulative effect of a change in accounting principle | $26,648 | 3.44% | $21,403 | 4.47% | $15,960 | 6.22% | Cumulative effect on prior years of change in accounting principle | $0 | 0.00% | $0 | 0.00% | -$2,041 | -0.80% | Net earnings | $26,648 | 3.44% | $21,403 | 4.47% | $13,919 | 5.43% | Just For Feet, INC.

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