Refer to Columbia Sportswear's and Under Armour's financial statements reprinted at the back of the book. Using

Question:

Refer to Columbia Sportswear's and Under Armour's reprinted at the back of the book. Using the companies' balance sheets and accompanying notes, write a response to the following questions:
Required
1. Determine Columbia Sportswear's current ratio for fiscal years 2011 and 2010. What do the ratios indicate about the liquidity of the company?
2. How do the current liabilities of the two companies compare?
3. Refer to the companies' notes. Do the companies have any for lawsuits or litigation? If so, how were these treated on the Contingent liabilities
A contingent liability is an obligation of business related to an uncertain future event. The business must record it in its financial statements if the amount can be reliably estimated and it is probable that amount will be paid by business as a... Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...