Comparative Analysis Problem: Columbia Sportswear Company vs. Under Armour, Inc. The financial statements for the Columbia Sportswear Company can be found in Appendix A and Under Armour, Inc.'s financial statements can be found in Appendix B at the end of this book.

Required

a. Each of the following accounts is listed in the company's financial statements:

Determine the normal balance (debit or credit) for each of the accounts listed above.

b. Identify the probable other account involved when:

1. Cost of goods sold is increased.

2. Interest income is increased.

3. Accounts receivable is decreased.

4. Income taxes payable is increased.

Appendix A

Appendix B

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2 12345 Columbia Sportswear Accounts receivable Property, plant, and equipment Accounts payable Common stock Interest income Under Armour, Inc. Inventories Income tax expense Long term debt Retained earnings Cost of goods sold 12345