Refer to the financial statements of Urban Outfitters in Appendix C at the end of this book.

Question:

Required:

1. What is the balance in short-term and long-term marketable securities reported by the company on January 31, 2009? What types of securities are included in these accounts?

2. How much cash did the company use to purchase marketable securities during the year ended

January 31, 2009?

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...