CT2-2 COMPARATIVE ANALYSIS PROBLEM: Columbia Sportswear Company vs. VF Corporation E The financial statements of Columbia Sportswear Company are presented in Appendix B. Financial statements of VF Corporation are presented in Appendix C. Assume Columbia's weighted-average number of shares outstanding was 227,514,000, and VF's was 56,997,000. Instructions (a) For each company, calculate the following values for 2014. 1.Working capital. 2.Current ratio. 3.Debt to assets ratio. 4.Free cash flow. (Hint: When calculating free cash flow, do not consider business acquisitions to be part of capital expenditures.) (b) Based on your findings above, discuss the relative liquidity and solvency of the two companies.

Page 22 CHAPTER 2 e Analysis Problem: Columbia Sportswear vs. VF Corporation afements for Columbia Sportswear Company are presented in Appendix B and for V Corporation a re presented in App endix c (these are also provided in Bblearn) (a) Co the following for each company for 2014 (omit #4 free cash flow, but add item (5) to calculate earnings per share): Ratio or Measure Columbia Sportswear VF Corporation (1) Working capital (2) Current ratio (3) Debt to total assets ratio (5) Earni ngs (correct weighted average number of (correct weighted average number of shares shares outstanding 69,807 thousand outstanding 432,611 thousand; use 'Net per shareuse "Net income attributable to income attributable to VF Corporation common stockholders") Columbia Sportswear") (b) Based on your findings above, discuss the relative liquidity and solvency of the two companies. Liquidity: Solvency: Page 22 CHAPTER 2 e Analysis Problem: Columbia Sportswear vs. VF Corporation afements for Columbia Sportswear Company are presented in Appendix B and for V Corporation a re presented in App endix c (these are also provided in Bblearn) (a) Co the following for each company for 2014 (omit #4 free cash flow, but add item (5) to calculate earnings per share): Ratio or Measure Columbia Sportswear VF Corporation (1) Working capital (2) Current ratio (3) Debt to total assets ratio (5) Earni ngs (correct weighted average number of (correct weighted average number of shares shares outstanding 69,807 thousand outstanding 432,611 thousand; use 'Net per shareuse "Net income attributable to income attributable to VF Corporation common stockholders") Columbia Sportswear") (b) Based on your findings above, discuss the relative liquidity and solvency of the two companies. Liquidity: Solvency