To help familiarize you with the financial reporting of a real company in order to further your

Question:

To help familiarize you with the financial reporting of a real company in order to further your understanding of the chapter material. This case uses both the income statement (statement of operations) and the balance sheet of Columbia Sportswear in Appendix A at the end of the book.

Requirements

1. What income statement format does Columbia Sportswear use? How can you tell?

2. Calculate the gross profit percentage for Columbia Sportswear for 2014, 2015, and 2016. Did the gross profit percentage improve or deteriorate over those years?

3. Calculate the net income percentage for Columbia Sportswear for 2014, 2015, and 2016. Did the net income percentage improve or deteriorate?

4. Does Columbia Sportswear report a classified balance sheet? How can you tell?

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...

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