Use PVH Corp.'s financial statements to answer to the following questions. 1. Provide the fiscal year 2021 adjusting journal entry (both accounts and amounts) that PVH made to record depreciation on its Property and Equipment. Assume that PVH makes one adjusting journal entry for depreciation expense at the end of each fiscal year as part of its adjusting entries. (3 points) 2. According to the footnotes, what is the total acquisition cost of the Property and Equipment that PVH owns as of January 30, 2022? (1 point) 3. According to the footnotes, what is the total acquisition cost of Land that PVH owns as of January 30, 2022? (1 point) 4. According to the footnotes, which of the following methods does PVH use to depreciate its Property and Equipment? (Circle one) (1 point) Double Declining of Activity Straight-Line Balance 5. Provide the fiscal year 2021 adjusting journal entry (both accounts and amounts) that PVH made to record amortization on its finite-lived Intangible Assets. Assume that PVH makes one adjusting journal entry for amortization expense at the end of each fiscal year as part of its adjusting entries. (3 points) 6. Does PVH's Goodwill footnote suggest that the company acquired any other companies during fiscal 2021? (Circle one) (1 point) YES NO 7. Does PVH's Goodwill footnote suggest that the company acquired any other companies during fiscal 2020? YES (Circle one) (1 point) NO In millions of dollars As of As of ASSETS Cash and cash equivalents Accounts receivable, net of the allowance of $62 million as of 1/30/2022 and of $70 million as of 1/31/2021 Inventories Prepaid expenses and other current assets Total current assets Property, plant, and equipment, net Goodwill Tradenames Other intangibles, net Other long-term assets Total assets Jan. 30, 2022 Jan. 31, 2021 $ 1,243 $ 1,651 745 642 1,349 1,417 317 234 $ 3,654 $ 3,944 906 943 2,829 2,954 2,723 2,870 584 648 1,701 1,935 $ 12,397 $ 13,294 LIABILITIES AND STOCKHOLDERS' EQUITY Account payable Accrued expenses Unearned revenue $1,221 $1,124 1,101 940 45 56 Short-term borrowings and other current liabilities 421 462 Total current liabilities Long-term debt Other long-term liabilities 2,788 2,582 2,318 3,514 2,003 2.467 Total liabilities Common stock 7,109 8,563 3,285 3,216 Retained earnings 2,003 1,515 Total stockholders' equity 5.288 4,731 Total liabilities and stockholders' equity $ 12,397 $ 13,294 Notes to Consolidated Financial Statements (partial) 1.1. Description of Business PVH Corp. constitute a global apparel company with a brand portfolio that includes TOMMY HILFIGER Calvin Klein, Warner's, Olga, and True&Co., which are owned, Van Heusen, IZOD. ARROW, and Geoffrey Beene, which the Company owned through the second quarter of 2021 and now licenses back for certain product categories, and other licensed brands. The Company designs and markets branded sportswear (casual apparel), jeanswear. performance apparel, intimate apparel, underwear, swimwear, dress shirts, neckwear, handbags, accessories. footwear and other related products and licenses its owned brands globally over a broad array of product categories and for use in numerous discrete jurisdictions. 1.3. Fiscal Year The Company uses a 52-53 week fiscal year ending on the Sunday closest to February 1. Results for fiscal years 2021. 2020 and 2019 represent the 52 weeks ended January 30, 2022, January 31, 2021 and February 2, 2020. respectively. 1.11. Property and Equipment Property and equipment consisted of the following (in millions): Land Buildings and building improvements Machinery, software and equipment Furniture and fixtures Shop-in-shops/concession locations Leasehold improvements Construction-in-progress Total property and equipment Accumulated depreciation Property and equipment, net As of 1/30/2022 1/31/2021 $1 $1 31 55 982 926 549 580 227 246 765 835 97 52 2,652 2,695 (1,746) (1,752) $906 $943 Property, plant and equipment is stated at cost less accumulated depreciation. Depreciation is generally provided over the estimated useful lives of the related assets on a straight-line basis. The range of useful lives is as follows: Buildings and building improvements 15 to 40 years; machinery, software and equipment-2 to 10 years: furniture and fixtures-2 to 10 years; and fixtures located in shop-in-shop/concession locations and their related costs 3 to 4 years. Leasehold improvements are depreciated using the straight-line method over the lesser of the term of the related lease or the estimated useful life of the asset. Depreciation expense totaled $267 million and $281 million in fiscal years 2021 and 2020, respectively. 7. Goodwill and Other Intangible Assets Goodwill and indefinite-lived intangible assets not subject to amortization are tested for impairment annually, at the beginning of the third quarter of each fiscal year, and between annual tests if an event occurs or circumstances change that would indicate that it is more likely than not that the carrying amount may be impaired. There was no impairment of goodwill in fiscal year 2021 but some goodwill impairment was recorded for fiscal year 2020. Purchased intangible assets with finite lives are amortized over their estimated useful lives using the straight-line and are tested for impairment. Amortization expense related to the Company's intangible assets subject to amortization was $34 million and $34 million for fiscal year 2021 and 2020, respectively