Answered step by step
Verified Expert Solution
Question
1 Approved Answer
CP2-2 Finding Financial Information LO2-1, 2-2, 2-5, 2-6 Refer to the financial statements of Urban Outfitters in Appendix C at the end of this book.
CP2-2 | Finding Financial Information | LO2-1, 2-2, 2-5, 2-6 | |||||
Refer to the financial statements of Urban Outfitters in Appendix C at the end of this book. | |||||||
Required: | |||||||
1. Use the company's balance sheet to determine the amounts in the accounting equation (A = L + SE) as of January 31, 2012. | |||||||
Assets | = | Liabilities | + | Shareholders Equity | |||
= | + | ||||||
2. If the company were liquidated at the end of the current year (January 31, 2012), are the shareholders | |||||||
guaranteed to receive $1,066,268,000? | |||||||
Why or why not? | |||||||
3. What are the company's noncurrent liabilities? | |||||||
4. What is the company's current ratio? | |||||||
Current = | = | = | |||||
Ratio | |||||||
5. Did the company have a cash inflow or outflow from investing activities? | |||||||
Of how much? | |||||||
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started