Comparing Income Statements and Balance Sheets of Competitors Following are selected income statement and balance sheet data from two retailers:

Comparing Income Statements and Balance Sheets of Competitors 

Following are selected income statement and balance sheet data from two retailers: Abercrombie & Fitch (clothing in the high-end market) and TJX Companies (clothing retailer in the value priced market), for the fiscal year ended January 30, 2016.

(a) Express each income statement amount as a percentage of sales.

Round your answers to one decimal place (ex: 0.2345 = 23.5%)

Income Statement($ thousands)ANF  TJX Sales$3,518,680  $30,944,938 Cost of goods sold1,361,137Answer

% 22,034,523Answer

%Gross profit2,157,543Answer

% 8,910,415Answer

%Total expenses2,121,967

Answer

% 6,632,757

Answer

%Net income$ 35,576

Answer

% $2,277,658Answer

%

(b) Express each balance sheet amount as a percentage of total assets.

Round your answers to one decimal place (ex: 0.2345 = 23.5%).

Balance Sheet($ thousands)ANF  TJX Current assets$1,178,980Answer

% $6,772,560Answer

%Long-term assets1,254,059Answer

% 4,726,922Answer

%Total assets$2,433,039  $11,499,482       Current liabilities$534,703Answer

% $4,402,230Answer

%Long-term liabilities602,614

Answer

% 2,790,177

Answer

%Total liabilities1,137,317Answer

% 7,192,407Answer

%Stockholders' equity1,295,722Answer

% 4,307,075Answer

%Total liabilities and equity$2,433,039  $11,499,482