Refer to the 10-K reports of Under Armour, Inc., and Columbia Sportswear that are available for download from the companion website at CengageBrain.com.
Required:
1. How much cash and equivalents and short-term investments (or current marketable securities) did Columbia and Under Armour hold as a percentage of total assets at the end of 2015 and 2016?
2. Speculate as to differences in cash management policies between the two companies.
3. Describe the change in cash and equivalents and marketable securities as a percentage of total assets for Under Armour between 2015 and 2016.
4. Locate the Auditor's Opinion on the effectiveness of internal controls over financial reporting and describe the steps the auditors took to audit the effectiveness of Under Armour's and Columbia's internal controls over financial reporting.