1) Is the Statement of Cash Flows prepared using the direct or indirect method? How do you know? Describe the difference between the two methods.

2) What was the value of Treasury Stock for the most current year? How many shares of Treasury Stock are held for the most current year?

(Below should be all the information you need)

COLUMBIA SPORTSWEAR COMPANY CONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended December 31, 2019 2020 2018 108,013 $ 330,489 $ 274,948 146,601 19,156 31,342 (11,263) 17,778 121,725 (108) 5,442 (1,808) 17,832 58,230 3,908 4,208 1,462 14,291 22,885 64,884 33,712 (21,224) (49,275) (52,115) 9,082 (52,112) 8,613 276,077 (37,429) (84,058) (15,068) (3,547) (10,419) 18,863 (9,402) (54,197) 7,137 285,452 (29,509) (94,716) (9,771) (12,421) 19,384 66,900 (3,958) (3,387) 289,569 (in thousands) Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation, amortization, and non-cash lease expense Provision for uncollectible accounts receivable Loss on disposal or impairment of intangible assets, property, plant and equipment, and right-of-use assets Deferred income taxes Stock-based compensation Changes in operating assets and liabilities: Accounts receivable Inventories, net Prepaid expenses and other current assets Other assets Accounts payable Accrued liabilities Income taxes payable Operating lease assets and liabilities Other liabilities Net cash provided by operating activities Cash flows from investing activities: Purchases of short-term investments Sales and maturities of short-term investments Capital expenditures Proceeds from sale of property, plant and equipment Net cash provided by (used in) investing activities Cash flows from financing activities: Proceeds from credit facilities Repayments on credit facilities Payment of line of credit issuance fees Proceeds from issuance of common stock related to stock-based compensation Tax payments related to stock-based compensation Repurchase of common stock Purchase of non-controlling interest Cash dividends paid Cash dividends paid to non-controlling interest Net cash used in financing activities Net effect of exchange rate changes on cash Net increase (decrease) in cash and cash equivalents Cash and cash equivalents, beginning of period Cash and cash equivalents, end of period Supplemental disclosures of cash flow information: Cash paid during the year for income taxes Supplemental disclosures of non-cash investing and financing activities: Property, plant and equipment acquired through increase in liabilities (35,044) 36,631 (28,758) (136,257) 400,501 (123,516) (518,755) 352,127 (65,622) 19 (232,231) (27,171) 140,728 78,186 (78,186) 70,576 (70,576) 402,422 (403,146) (3,278) 6,919 (4,533) (132,889) 19,793 (5,806) (121,702) (17,880) (65,127) 18,484 (4,285) (201,600) (17,195) (151,700) 7,510 104,716 686,009 790,725 (190,722) (1,244) 234,214 451,795 686,009 (62,664) (19,949) (270,014) (8,695) (221,371) 673,166 451,795 $ $ $ $ 14,687 $ 99,062 $ 77,408 $ 3,831 $ 9,543 $ 11,831 COLUMBIA SPORTSWEAR COMPANY CONSOLIDATED BALANCE SHEETS December 31, 2020 2019 $ 790,725 $ 1,224 452,945 556,530 54,197 1,855,621 309,792 339,244 103,558 68,594 96, 126 63,636 2,836,571 $ 686,009 1,668 488,233 605,968 93,868 1,875,746 346,651 394,501 123,595 68,594 78,849 43,655 2,931,591 $ (in thousands) ASSETS Current Assets: Cash and cash equivalents Short-term investments Accounts receivable, net of allowance of $ 21,810 and $8,925, respectively Inventories, net Prepaid expenses and other current assets Total current assets Property, plant and equipment, net Operating lease right-of-use assets Intangible assets, net Goodwill Deferred income taxes Other non-current assets Total assets LIABILITIES AND EQUITY Current Liabilities: Accounts payable Accrued liabilities Operating lease liabilities Income taxes payable Total current liabilities Non-current operating lease liabilities Income taxes payable Deferred income taxes Other long-term liabilities Total liabilities Commitments and contingencies (Note 12) Shareholders' Equity: Preferred stock; 10,000 shares authorized; none issued and outstanding Common stock (no par value); 250,000 shares authorized; 66,252 and 67,561 issued and outstanding, respectively Retained earnings Accumulated other comprehensive income (loss) Total shareholders' equity Total liabilities and shareholders' equity $ $ 206,697 257,278 65,466 23,181 552,622 353,181 49,922 5,205 42,870 1,003,800 255,372 295,723 64,019 15,801 630,915 371,507 48,427 6.361 24,934 1,082,144 20,165 1,811,800 806 1,832,771 2,836,571 $ 4,937 1,848,935 (4,425) 1,849,447 2,931,591 $