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Prepare a statement of cash flows (indirect method) for the year ended January 29, 2022. Prepare a side-by-side comparative statement contrasting two bases of reporting:
- Prepare a statement of cash flows (indirect method) for the year ended January 29, 2022. Prepare a side-by-side comparative statement contrasting two bases of reporting: (1) net income and (2) cash flows from operations. Which of the two financial reports in (b) better reflects profitability? Explain. Discuss the company's accounting income components: a) Permanent b) Transitory c) Value Irrelevant Did you discover any type of Cosmetic Earning Management made by the management in the last 2 years? Which strategy did they use: a) Increasing Income b) Big Bath c) Income Smoothing? And how does this affect the company’s stock performance in the stock market?
| Created by EDGAR Online, Inc. | |||||||||||
| CALERES INC | |||||||||||
| BALANCE_SHEET | |||||||||||
| Form Type: 10-K | |||||||||||
| Period End: Jan 29, 2022 | |||||||||||
| Date Filed: Mar 28, 2022 | |||||||||||
| Consolidated Balance Sheets | |||||||||||
| ($ thousands) | January 29, 2022 | January 30, 2021 | February 1, 2020 | January 29, 2022 | January 30, 2021 | February 1, 2020 | |||||
| Assets | Price per share | 23.08 | 15.11 | 17.55 | |||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ 30,115 | $ 88,295 | $ 45,218 | ||||||||
| Receivables, net of allowances of $29,930 in 2021 and | |||||||||||
| $31,971 in 2020 | 122,236 | 126,994 | 162,181 | ||||||||
| Inventories, net of adjustment to last-in, first-out | |||||||||||
| cost of $1,255 in 2021 and $793 in 2020 | 596,807 | 487,955 | 618,406 | ||||||||
| Income taxes | 33,073 | 33,925 | 6,189 | ||||||||
| Property and equipment, held for sale | 5,455 | - | |||||||||
| Prepaid expenses and other current assets | 48,790 | 45,387 | 50,305 | ||||||||
| Total current assets | 836,476 | 782,556 | 882,299 | ||||||||
| Prepaid pension costs | 99,139 | 88,833 | 50,660 | ||||||||
| Lease right-of-use assets | 503,430 | 554,303 | 695,594 | ||||||||
| Property and equipment, net | 150,238 | 172,437 | 224,846 | ||||||||
| 9,735 | |||||||||||
| Goodwill and intangible assets, net | 227,503 | 240,071 | 245,275 | ||||||||
| 294,304 | |||||||||||
| Other assets | 27,140 | 28,850 | 28,994 | ||||||||
| Total assets | $ 1,843,926 | $ 1,867,050 | $ 2,431,707 | ||||||||
| Liabilities and Equity | |||||||||||
| Current liabilities: | |||||||||||
| Borrowings under revolving credit agreement | $ 290,000 | $ 250,000 | $ 275,000 | ||||||||
| Mandatory purchase obligation - Blowfish Malibu | - | 39,134 | 267,018 | ||||||||
| Trade accounts payable | 331,470 | 280,501 | 54,720 | ||||||||
| Employee compensation and benefits | 88,034 | 48,641 | 7,186 | ||||||||
| Income taxes | 22,622 | 5,069 | 127,869 | ||||||||
| Lease obligations | 128,495 | 153,060 | |||||||||
| Other accrued expenses | 164,992 | 129,104 | 119,157 | ||||||||
| Total current liabilities | 1,025,613 | 905,509 | 850,950 | ||||||||
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Accounting Volume 2Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren 2nd Canadian edition 176501452, 978-0176501457, 978-0176509743 | |||||||||||
