Expert answer:Could some help me with this short accounting assi
Solved by verified expert:All information needed is attached.
acct_1.docx
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Please answer all the questions within this document. The Company is Ross Stores,
Inc. and the link for the needed SEC 10-K account is below:
https://www.sec.gov/Archives/edgar/data/745732/000074573217000009/rost20170128x10k.htm
Please do not use any other online resources, unless it really cannot be found under the
link provided and please provide page numbers as citation for the numbers found.
Read the SEC 10-K for your company to answer the questions below.
Category: Revenue and Net Income
•
What were the corporation’s net sales, cost of goods sold, and gross profit?
–
•
What was the corporate tax rate? This should be an item in the notes to the
financial statement. Required disclosure usually explains the Federal Statutory
rate and a reconciliation to the actual tax rate of the company each year.
–
•
Read the Statement of Comprehensive Income. Notice the first line is the Net
Income from the Income Statement. Accumulated Other Comprehensive Net
Income (or net loss) is an item in the Statement of Owners’ Equity Section and in
the Balance Sheet. Post the value from the Balance Sheet and comment on
whether this item is increasing or decreasing (take care with the concept of
change and net income or net loss).
–
•
What items appear under Other Comprehensive Income (Loss)?
–
•
What is the account and the amount of the bottom line item on the Statement (or
Consolidated Statement) of Comprehensive Income?
–
…
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