Question
Required: Access the American Eagle 2014 Annual Report/10K (In the appendix to the textbook or obtain online). Look at the financial statements and Notes to
Required: Access the American Eagle 2014 Annual Report/10K (In the appendix to the textbook or obtain online). Look at the financial statements and Notes to the financial statements closely and attempt to infer what kinds of information they report. Then, answer the following questions based on the Report. 1. Compute the current ratio for fiscal year 2014. 2. (a) Compute the change in Fixtures and Equipment from fiscal year-end 2013 to fiscal year-end 2014 (hint: refer to the notes). (b) If American Eagle purchased fixtures and equipment during the fiscal year ending January, 31, 2015 at a total cost of $150,000, what was the cost of fixtures and equipment sold during the year (hint: make a T-account)?
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