Question 26 View Policies Current Attempt in Progress The financial statements of Columbia Sportswear Company are presented in Appendix B. Click here to view Appendix B. The financial statements of VF Corporation are presented in Appendix C. Click here to view Appendix C. Part 1 2.75.) Based on the information contained in these financial statements, compute the current ratio for 2014 for each company. (Round answers to 2 decimal places, Current ratio Columbia Sportswear VF Corporation Atte Save for Later Part 2 Based on the information contained in these financial statements, compute the following 2014 ratios for each company. (Round answers to 1 decimal place.es 52.7.) Columbia Sportswear VF Corporation (1) Debt to assets ratio. 12) Times interest earned. times Suve for Later Specimen Financial Statements: Columbia Sportswear Company Cab l e The Columbi a was pretend in its 2014 anal report to socess Columbia's complete anual report, including notes LG www. Raport The Notes to considered in a COLUMBIA SPORTSWEAR COMPANY CONSOLIDATED STATEMENTS OF OPERATIONS la thousands, except per share amounts) Yearded the 2013 2012 2014 $ 5 1.684.996 941.341 743,655 625,656 13,795 131.794 503 1.669,563 953.169 716,394 596.635 13.769 133.528 379 Nel sales Cost of sales Gross profit Selling general and administrative expenses Net licensing income Income from operations Interest income, net Interest expense on note payable to related party (Note 22) Other non-operating expense Income before income tax Income tax expense (Note II) Net Income Net income (los) attributable to non-controlling interest Net income attributable to Columbia Sportswear Company Famings per share attributable to Columbia Sportswear Company (Note 17): Basic Diluted Weighted average shares outstanding (Note 17% Basic Diluted 2,100,590 1.145639 954.951 763,063 6056 198,844 1.004 (1.053) (274) 198,521 56.662) 141.859 4.686 137.173 (871) 131.426 (37.823) 93.603 (738) 94.341 133.907 (14.048) 99.859 99.859 1.97 $ 1.37 $ 1.48 1.46 1.16 69,807 70.681 68,756 69.434 67.680 68.264 COLUMBIA SPORTSWEAR COMPANY CONSOLIDATED BALANCE SHEETS In thousands) ASSETS CA Cash and cash equivalent Short-term investments Accounts receive et Note Inventories Deferred income taxes (Noel) Prepaid expenses and other cur e s 413.558 27.267 344,390 384,650 57.001 39,175 1.266,041 291,563 141.731 68.594 320 1.792 209 437,489 91.755 306,878 329.228 52,041 33.0 1.250.472 279,373 3628 14.438 26.017 1.605589 $ $ Total current Property, plan and equipment, et (Note7 Intangibles, et (Notes 38) Goodwill (Notes 3.8) Other non-current Totale LIABILITIES AND EQUITY Current Liabilities Accounts payable Accrued liabilities (Note 101 Income taxes payable Note 11) Deferred income taxes (Note 11) Total current liabilities Nowe payable to related party (Note 22) Other long term abilities (Notes 12. 13) Income taxes payable (Note II) 214,2755 173.557 120,397 7.251 14,388 160 373.120 15.728 35.435 9.38 301.254 29,527 13.084 438 OR 504 22 25.017 $ 1.792.309 $ 1.605 588 173.557 120,397 7,251 49 301,254 Goodwill Notes 3.8) Other co-current Total acts LIABILITIES AND EQUITY Current Liabilities Accounts payable Accrued liabilities (Note 10) Income taxes payable (Note 11) Deferred income taxes (Note 11) Total current liabilities No puyable to related party (Note 22) Other long-term lilities (Notes 12. 13) Income taxes payable (No II) Deferred income taxes (Note 11) Total liabilities Commitments and contingencies (No 14) Shareholders' Equity Preferred stock: 10,000 shares authorized: none issued and outstanding Common Mock ne par valok 250,000 shares authorized: 69.828 and 69,190 issued and outstanding No 15) Retained earings Accumulated other comprehensive income (Note 18) Total Columbia Sportswear Company shareholders equity Non-controlling interest (Note 5) Total equity Total liabilities and equity 214275 1442 14,388 169 373.120 15.728 35.435 9.38 3.14 416,975 29.527 1084 7.959 352,724 72,700 1.255,070 15.833 1.343.003 11.631 1.15524 1.792 209 52.325 1.157.733 35.360 1.245,418 7.446 1.252 64 1.605.588 S See accompanying notes to consolidated financial statements COLUMBIA SPORTSWEAR COMPANY CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME In thousands) See accompanying to consolidated financial statements COLUMBIA SPORTSWEAR COMPANY CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME in thousands) Year Kader $ 141.859 93.603 $ 99,859 Net Income Other c hemise los walioingi wable for sale securities (net of tax expense benefit 7.751 (1.261) (4.745) (9,861) 4.518 (27.789) (2002) Uwa g i dos derivative traction (net oftas expense) benefit of ($1.507), 59 and (5171 respectively) Foreign currency r atio n es et of benefit expense of $1,023. (191) and $99. respectively Other comprehensive loss Comprehensive Comprehensive income costribute to controlling interest hemive income the Columbia Sportswear Company (11.119) (224 121.331 99,625 (554) $117.00 SR300 00625 C See accompanying notes to consolidated financial statements COLUMBIA SPORTSWEAR COMPANY CONSOLIDATED STATEMENTS OF CASH FLOWS In thousands) Yeed COLUMBIA SPORTSWEAR COMPANY CONSOLIDATED STATEMENTS OF CASH FLOWS in thousands) Cash flows from operating activities $141 Os 101 0059 M o ncle et incest cach provided by operating activities 40571 492 1582 Low on disposal or impairment Deferred property, plant and ment 54,017 ANI (6978 11 927 BNIB 8878 15320 Excess from employee plans (1.016) Accounce 1.478) 162.686 Pepades and her current Othe Ape Accredibilities Income Other Bible Netch provided by opening activities Cash flows from investing activities 4.291 41.941 15.051 1.166 27,442 14.089 5.166 (4.215 31.711 12.210 5.534 2.356 274 275 18,166 2.951 (2.025) (1.259) (12.110 05.199) (11.052) 3.126 14. 5.783 A of the word CINN (41.243) 112.95 (125.390 78616 09.44) Sales of short-term investments Capul expenditures Proceeds from sale of property, plant, and equipment Netcash wed in investing activities Cash flows from financing activities (83.969) 42.319 (50,91) 2.1999 (5.002 TIPS (60.783) 78.6.16 169.443) also ha v ements Capital expenditures Proceeds from poperty, plant and equipment Netched in investing activities Cashows from financing activities: 42.319 (50,191) 7.099 185.042) (184,027) (116,086) $2.156 152,205) 22.277 3.141) 4,927 15.000 16.072 69.136 169.292) 19,537 (2.291) 100.654 (100.498) 14.500 (1.486) 1.016 (206) Proceeds from credit facilities Repayments on credit facilities Proceeds from i nce of common stock under employee och plans Tax payments related to restricted och unit inances Excess tax benefit from employee stock plans Repurchase of common stock Proceeds from note payable to related party Capital contribution from non-controlling interest Cash dividends paid Net cash used in financing activities Net effect of exchange rate changes on cash Nel increase decrease in cash and cash equivalents Cash and cash equivalents, beginning of year Cash and cash equivalents, end of year (29.780) 8.000 (31,298) (4.676) 16,805) (15.700) (1936) (14.550) (11.137) (23.931) 437.489 413.558 146.708 241034 200.781 417 489 5 $ 290,781 $ 53.958 S 22,771 5 43.696 Supplemental disclosures of cash flow information Cash paid during the year for income taxes Supplemental disclosures of non-cash investing activities: Capital expenditures incurred but not yet paid 7.1965 .195 5.313 See accompanying notes to consolidated financial statements COLUMBIA SPORTSWEAR COMPANY CONSOLIDATED STATEMENTS OF EQUITY (in thousands) COLUMBIA SPORTSWEAR COMPANY CONSOLIDATED STATEMENTS OF EQUITY (In thousands) C a mpang Share And Other Retained T s 10245 101 1.094,611 BALANCE JANUARY 1, 2012 9059 Cheder) (29,780) 13.114 1016 Socked contine Repurchase of comme BALANCE, DECEMBER 31, 2012 III 1.166, 167 93.603 Ung abe for sale de los detive transactions (10.045 (1.260 (9.861) 31.298) 17.36 8.000 B Cash dividends (50.46 persuare) e of cowockunder Calcetion from non-controlling och planet 17.346 1.17 8.875 Stacks compensation pense BALANCE. DECEMBER 31, 2013 9 100 52.325 1.157.733 T15 OR Me3C 1.036 200 BULO 1.166.167 BALANCE DECEMBER 4 (1.261) 10045 OM 20 18300 22 3 BALANCE DECEMBER 1 5,31 137.173 (27.70 ( 16) 19.116 5,119 19.136 5.119 11.120 IS. 72.700 11.12 21 Repof.com BALANCE, DECEMBER 31, 2014 (150000 1.15234 5 51.255,000 $ 1533 5 11.631 $ See accompanying notes to consolidated financial statements Question 26 View Policies Current Attempt in Progress The financial statements of Columbia Sportswear Company are presented in Appendix B. Click here to view Appendix B. The financial statements of VF Corporation are presented in Appendix C. Click here to view Appendix C. Part 1 2.75.) Based on the information contained in these financial statements, compute the current ratio for 2014 for each company. (Round answers to 2 decimal places, Current ratio Columbia Sportswear VF Corporation Atte Save for Later Part 2 Based on the information contained in these financial statements, compute the following 2014 ratios for each company. (Round answers to 1 decimal place.es 52.7.) Columbia Sportswear VF Corporation (1) Debt to assets ratio. 12) Times interest earned. times Suve for Later Specimen Financial Statements: Columbia Sportswear Company Cab l e The Columbi a was pretend in its 2014 anal report to socess Columbia's complete anual report, including notes LG www. Raport The Notes to considered in a COLUMBIA SPORTSWEAR COMPANY CONSOLIDATED STATEMENTS OF OPERATIONS la thousands, except per share amounts) Yearded the 2013 2012 2014 $ 5 1.684.996 941.341 743,655 625,656 13,795 131.794 503 1.669,563 953.169 716,394 596.635 13.769 133.528 379 Nel sales Cost of sales Gross profit Selling general and administrative expenses Net licensing income Income from operations Interest income, net Interest expense on note payable to related party (Note 22) Other non-operating expense Income before income tax Income tax expense (Note II) Net Income Net income (los) attributable to non-controlling interest Net income attributable to Columbia Sportswear Company Famings per share attributable to Columbia Sportswear Company (Note 17): Basic Diluted Weighted average shares outstanding (Note 17% Basic Diluted 2,100,590 1.145639 954.951 763,063 6056 198,844 1.004 (1.053) (274) 198,521 56.662) 141.859 4.686 137.173 (871) 131.426 (37.823) 93.603 (738) 94.341 133.907 (14.048) 99.859 99.859 1.97 $ 1.37 $ 1.48 1.46 1.16 69,807 70.681 68,756 69.434 67.680 68.264 COLUMBIA SPORTSWEAR COMPANY CONSOLIDATED BALANCE SHEETS In thousands) ASSETS CA Cash and cash equivalent Short-term investments Accounts receive et Note Inventories Deferred income taxes (Noel) Prepaid expenses and other cur e s 413.558 27.267 344,390 384,650 57.001 39,175 1.266,041 291,563 141.731 68.594 320 1.792 209 437,489 91.755 306,878 329.228 52,041 33.0 1.250.472 279,373 3628 14.438 26.017 1.605589 $ $ Total current Property, plan and equipment, et (Note7 Intangibles, et (Notes 38) Goodwill (Notes 3.8) Other non-current Totale LIABILITIES AND EQUITY Current Liabilities Accounts payable Accrued liabilities (Note 101 Income taxes payable Note 11) Deferred income taxes (Note 11) Total current liabilities Nowe payable to related party (Note 22) Other long term abilities (Notes 12. 13) Income taxes payable (Note II) 214,2755 173.557 120,397 7.251 14,388 160 373.120 15.728 35.435 9.38 301.254 29,527 13.084 438 OR 504 22 25.017 $ 1.792.309 $ 1.605 588 173.557 120,397 7,251 49 301,254 Goodwill Notes 3.8) Other co-current Total acts LIABILITIES AND EQUITY Current Liabilities Accounts payable Accrued liabilities (Note 10) Income taxes payable (Note 11) Deferred income taxes (Note 11) Total current liabilities No puyable to related party (Note 22) Other long-term lilities (Notes 12. 13) Income taxes payable (No II) Deferred income taxes (Note 11) Total liabilities Commitments and contingencies (No 14) Shareholders' Equity Preferred stock: 10,000 shares authorized: none issued and outstanding Common Mock ne par valok 250,000 shares authorized: 69.828 and 69,190 issued and outstanding No 15) Retained earings Accumulated other comprehensive income (Note 18) Total Columbia Sportswear Company shareholders equity Non-controlling interest (Note 5) Total equity Total liabilities and equity 214275 1442 14,388 169 373.120 15.728 35.435 9.38 3.14 416,975 29.527 1084 7.959 352,724 72,700 1.255,070 15.833 1.343.003 11.631 1.15524 1.792 209 52.325 1.157.733 35.360 1.245,418 7.446 1.252 64 1.605.588 S See accompanying notes to consolidated financial statements COLUMBIA SPORTSWEAR COMPANY CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME In thousands) See accompanying to consolidated financial statements COLUMBIA SPORTSWEAR COMPANY CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME in thousands) Year Kader $ 141.859 93.603 $ 99,859 Net Income Other c hemise los walioingi wable for sale securities (net of tax expense benefit 7.751 (1.261) (4.745) (9,861) 4.518 (27.789) (2002) Uwa g i dos derivative traction (net oftas expense) benefit of ($1.507), 59 and (5171 respectively) Foreign currency r atio n es et of benefit expense of $1,023. (191) and $99. respectively Other comprehensive loss Comprehensive Comprehensive income costribute to controlling interest hemive income the Columbia Sportswear Company (11.119) (224 121.331 99,625 (554) $117.00 SR300 00625 C See accompanying notes to consolidated financial statements COLUMBIA SPORTSWEAR COMPANY CONSOLIDATED STATEMENTS OF CASH FLOWS In thousands) Yeed COLUMBIA SPORTSWEAR COMPANY CONSOLIDATED STATEMENTS OF CASH FLOWS in thousands) Cash flows from operating activities $141 Os 101 0059 M o ncle et incest cach provided by operating activities 40571 492 1582 Low on disposal or impairment Deferred property, plant and ment 54,017 ANI (6978 11 927 BNIB 8878 15320 Excess from employee plans (1.016) Accounce 1.478) 162.686 Pepades and her current Othe Ape Accredibilities Income Other Bible Netch provided by opening activities Cash flows from investing activities 4.291 41.941 15.051 1.166 27,442 14.089 5.166 (4.215 31.711 12.210 5.534 2.356 274 275 18,166 2.951 (2.025) (1.259) (12.110 05.199) (11.052) 3.126 14. 5.783 A of the word CINN (41.243) 112.95 (125.390 78616 09.44) Sales of short-term investments Capul expenditures Proceeds from sale of property, plant, and equipment Netcash wed in investing activities Cash flows from financing activities (83.969) 42.319 (50,91) 2.1999 (5.002 TIPS (60.783) 78.6.16 169.443) also ha v ements Capital expenditures Proceeds from poperty, plant and equipment Netched in investing activities Cashows from financing activities: 42.319 (50,191) 7.099 185.042) (184,027) (116,086) $2.156 152,205) 22.277 3.141) 4,927 15.000 16.072 69.136 169.292) 19,537 (2.291) 100.654 (100.498) 14.500 (1.486) 1.016 (206) Proceeds from credit facilities Repayments on credit facilities Proceeds from i nce of common stock under employee och plans Tax payments related to restricted och unit inances Excess tax benefit from employee stock plans Repurchase of common stock Proceeds from note payable to related party Capital contribution from non-controlling interest Cash dividends paid Net cash used in financing activities Net effect of exchange rate changes on cash Nel increase decrease in cash and cash equivalents Cash and cash equivalents, beginning of year Cash and cash equivalents, end of year (29.780) 8.000 (31,298) (4.676) 16,805) (15.700) (1936) (14.550) (11.137) (23.931) 437.489 413.558 146.708 241034 200.781 417 489 5 $ 290,781 $ 53.958 S 22,771 5 43.696 Supplemental disclosures of cash flow information Cash paid during the year for income taxes Supplemental disclosures of non-cash investing activities: Capital expenditures incurred but not yet paid 7.1965 .195 5.313 See accompanying notes to consolidated financial statements COLUMBIA SPORTSWEAR COMPANY CONSOLIDATED STATEMENTS OF EQUITY (in thousands) COLUMBIA SPORTSWEAR COMPANY CONSOLIDATED STATEMENTS OF EQUITY (In thousands) C a mpang Share And Other Retained T s 10245 101 1.094,611 BALANCE JANUARY 1, 2012 9059 Cheder) (29,780) 13.114 1016 Socked contine Repurchase of comme BALANCE, DECEMBER 31, 2012 III 1.166, 167 93.603 Ung abe for sale de los detive transactions (10.045 (1.260 (9.861) 31.298) 17.36 8.000 B Cash dividends (50.46 persuare) e of cowockunder Calcetion from non-controlling och planet 17.346 1.17 8.875 Stacks compensation pense BALANCE. DECEMBER 31, 2013 9 100 52.325 1.157.733 T15 OR Me3C 1.036 200 BULO 1.166.167 BALANCE DECEMBER 4 (1.261) 10045 OM 20 18300 22 3 BALANCE DECEMBER 1 5,31 137.173 (27.70 ( 16) 19.116 5,119 19.136 5.119 11.120 IS. 72.700 11.12 21 Repof.com BALANCE, DECEMBER 31, 2014 (150000 1.15234 5 51.255,000 $ 1533 5 11.631 $ See accompanying notes to consolidated financial statements