Columbia Sportswear Company vs. VF Corporation CT13-2 The financial statements of Columbia Sportswear Company are presented in Appendix B. Financial statements of VF Corporation are presented in Appendix C. Instructions (a) Based on the information in the financial statements, determine each of the following for each company: (1) The percentage increase (i) in net sales and (ii) in net income from 2013 to 2014. (2) The percentage increase (i) in total assets and (ii) in total stockholders equity from 2013 to 2014. (3) The basic earnings per share for 2014. (b) What conclusions concerning the two companies can be drawn from these data?

COLUMBIA SPORTSWEAR COMPANY CONSOLIDATED BALANCE SHEETS (In thousands) December 31, 2014 2013 ASSETS Current Assets: Cash and cash equivalents Short-term investments Accounts receivable, net (Note 6) Inventories Deferred income taxes (Note 11) Prepaid expenses and other current assets 413358 437489 91.755 306.878 329228 52041 33.081 1250472 279,373 36.288 4.438 25017 $ 1.792,209 S 1605588 27,267 344,390 384650 57.001 39,175 1,266041 291 563 Total current assets Property, plant, and equipmeat, net (Note 7) Intangible assets, net (Notes 3,8) Goodwill (Notes 3,8) Other non-current assets 143,73 68,594 22280 Total assets LIABILITIES AND EQUITY Carrent Liabilities: Accounts payable Accrued liabilities (Note 10) Income taxes payable (Note 11) Deferred income taxes (Note 11) $ 214275 173557 20,397 7251 49 301 254 Total current liabilities Note payable to related party (Note 22) Other long-term liabilities (Notes 12, 13) Income taxes payable (Note 11) Deferred income taxes (Note 11) 144,288 14,388 169 373,120 15,728 35435 9,388 3.304 436,975 29.527 3,984 7959 352,724 Total liabilities Commitments and contingencies (Note 14 COLUMBIA SPORTSWEAR COMPANY CONSOLIDATED BALANCE SHEETS (In thousands) December 31, 2014 2013 ASSETS Current Assets: Cash and cash equivalents Short-term investments Accounts receivable, net (Note 6) Inventories Deferred income taxes (Note 11) Prepaid expenses and other current assets 413358 437489 91.755 306.878 329228 52041 33.081 1250472 279,373 36.288 4.438 25017 $ 1.792,209 S 1605588 27,267 344,390 384650 57.001 39,175 1,266041 291 563 Total current assets Property, plant, and equipmeat, net (Note 7) Intangible assets, net (Notes 3,8) Goodwill (Notes 3,8) Other non-current assets 143,73 68,594 22280 Total assets LIABILITIES AND EQUITY Carrent Liabilities: Accounts payable Accrued liabilities (Note 10) Income taxes payable (Note 11) Deferred income taxes (Note 11) $ 214275 173557 20,397 7251 49 301 254 Total current liabilities Note payable to related party (Note 22) Other long-term liabilities (Notes 12, 13) Income taxes payable (Note 11) Deferred income taxes (Note 11) 144,288 14,388 169 373,120 15,728 35435 9,388 3.304 436,975 29.527 3,984 7959 352,724 Total liabilities Commitments and contingencies (Note 14