Part I: American Eagle Outfitters, Iuc. 1. The summary of signiticant accounting polices is located in foctoote 2 to the finabcial statements. Lacate the section on property and equipment, What depreciation method does American bagle use? What are the estimaled useful lives for buildings, leasehold irngrovements, and fixtures and cquipmeat? 2. Find footnote 7 cotitled Property and Equipment. Wbat are the cost and the book value of property and equipment? What is the trend in depreciation expense for the past three years? 7. Find footnote 8 fior lntangible Assets. What intangible asset is listedi What are listed as the cost and the book value of intangible assets for the most fecent year? What is the tfend in smortization expense for the past three years? Part II: The Bucklc Ine. 1. The summary of significant accounting polices is locsted in fovinote A to the linancial staremeats. Locate the section on property and equipment. What deprociation rethod docs The Buckle use? What are the cstimated usctul lives for property abd equipacnt? What are the estimnted useful lives for buildings? 2. Find note b entilled Property and tuuponent. What is the cowt of properly and eurment? What is the trend in nroperty and equigment for the past iwo yesrs? 3. From the balance sheet, what three other types of loug-tenn assets are listed? Part III: Comparative Aualysis 1. Calculate American Fagle's retum on assets, profit marggin, and asset tumbver ratio for the most rocent year. 2. Calculate Buckle's returo on assets, profit magin, and asset turbover ratio for the most reont year, 3. Which compseny is doing better based on retum on assets? Which compacy has tbe bigber protit matgin? Which company has the higher asset turmover