Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

::: ::: 1 ::. 12 3 4 ... 6 American Eagle Outfitters, Inc. 2017 annual report (10-K) filing date of 2018-03-16 1. Calculate American Eagle's

image text in transcribed

::: ::: 1 ::. 12 3 4 ... 6 American Eagle Outfitters, Inc. 2017 annual report (10-K) filing date of "2018-03-16" 1. Calculate American Eagle's percentage change in total assets and percentage change in net sales for the most recent year. Percentage change in total assets = || Percentage change in net sales = 2. Calculate American Eagle's percentage change in net income for the most recent year. Percentage change in net income = 3. Did American Eagle issue any common stock in the most recent year? 4. Do you see the term debit or credit listed in the balance sheet? Which account types in the balance sheet increase with a debit and which ones increase with a credit? 5. Do you see the term debit or credit listed in the income statement? Which account types in the income statement increase with a debit and which ones increase with a credit? 6. What is the change in retained earnings reported in the balance sheet? The change in retained earnings = 7. For the most recent year, what is the amount of net income reported in the income statement? The amount of net income 8. Using your answers in 6 and 7, calculate the amount of dividends paid during the year. Verify your answer by looking at the retained earnings column in the statement of stockholder's equity. The amount of dividends paid = Cash dividends shown in the statement of stockholder's equity = Are these numbers same or different? Can you try to explain? ::: ::: 1 ::. 12 3 4 ... 6 American Eagle Outfitters, Inc. 2017 annual report (10-K) filing date of "2018-03-16" 1. Calculate American Eagle's percentage change in total assets and percentage change in net sales for the most recent year. Percentage change in total assets = || Percentage change in net sales = 2. Calculate American Eagle's percentage change in net income for the most recent year. Percentage change in net income = 3. Did American Eagle issue any common stock in the most recent year? 4. Do you see the term debit or credit listed in the balance sheet? Which account types in the balance sheet increase with a debit and which ones increase with a credit? 5. Do you see the term debit or credit listed in the income statement? Which account types in the income statement increase with a debit and which ones increase with a credit? 6. What is the change in retained earnings reported in the balance sheet? The change in retained earnings = 7. For the most recent year, what is the amount of net income reported in the income statement? The amount of net income 8. Using your answers in 6 and 7, calculate the amount of dividends paid during the year. Verify your answer by looking at the retained earnings column in the statement of stockholder's equity. The amount of dividends paid = Cash dividends shown in the statement of stockholder's equity = Are these numbers same or different? Can you try to explain

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

For Heintz/parrys College Accounting, Chapters 1-15, 22nd Edition, [instant Access]

Authors: James A. Heintz, Robert W. Parry

22nd Edition

1305669886, 9781305669888

More Books

Students also viewed these Accounting questions

Question

3. Give short, clear directions before, not during, transitions.

Answered: 1 week ago

Question

How do the two components of this theory work together?

Answered: 1 week ago