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Refer to the financial statements of Urban Outfitters given in Appendix C at the end of this book. Required: 1. Unlike most companies, Urban Outfitters
| Refer to the financial statements of Urban Outfitters given in Appendix C at the end of this book. | ||||||
| Required: | ||||||
| 1. Unlike most companies, Urban Outfitters does not report the amount of interest paid in cash during the most | ||||||
| recent reporting year. Explain why you think the company has omitted this information. | ||||||
| 2. Explain why the company does not report bonds payable on its balance sheet. | ||||||
| 3. Describe the company's established arrangements, if any, that permit it to borrow money if needed. | ||||||
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