Using information found in the financial statements of the Annual Report, make the following closing entries:

1. Make journal entries to close the revenue and expense accounts.

2. Make a journal entry to close the income summary account.

3. Make a journal entry to close the dividend account.

4. What is the date of the closing entries?

Using information found in the financial statements of the Annual Report, make the following closing entries:

1. Make journal entries to close the revenue and expense accounts.

2. Make a journal entry to close the income summary account.

3. Make a journal entry to close the dividend account.

4. What is the date of the closing entries?

Table of Contents COLUMBIA SPORTSWEAR COMPANY 2018 CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) Net 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 Other non-operating income (expense), net Income before income tax Income tax expense Net income Net income attributable to non-controlling interest Net income attributable to Columbia Sportswear Company Year Ended December 31 2010 3,042,478 2,802,326 1,526,808 1,415,978 1,515,670 1,386,348 1,136,186 1,051, 152 15,487 15,786 394,971 350,982 8,302 9,876 2017 2,466,105 1,306,143 1,159,962 910,894 13,901 262.969 4,515 (429) (321) 266,734 154,419 112,315 7,192 105,123 2,156 405,429 74,940 330,489 (141) 360,717 85,769 274,948 6,692 268,256 330,489 4.87 4.83 3.85 3.81 1.51 1.49 $ Earnings por share attributable to Columbia Sportswear Company: Basic Diluted Weighted average shares outstanding: Basic Diluted 67,837 68,493 69,614 70,401 69.759 70,453 Table of Contents COLUMBIA SPORTSWEAR COMPANY CONSOLIDATED BALANCE SHEETS December 31, 2019 2018 686,009 437,825 13.970 262.802 449,382 521.827 79.500 1,765,306 291,596 1.668 488,233 605.968 93,868 1,875,746 346,651 394,501 123,595 68,594 78,849 43,655 2.931,591 126,575 68,594 78,155 38.495 2,368,721 fin thousands) ASSETS Current Assets: Cash and cash equivalents Restricted cash Short-term investments Accounts receivable, net of allowance of $ 8.925 and $11.051, respectively Inventories Prepaid expenses and other current assets Total current assets Property, plant, and equipment, net Operating lease right-of-use assets Intangible assets, net Goodwill Deferred income taxes Other non-current assets Total assets LIABILITIES AND EQUITY Current Liabilities: Accounts payable Accrued liabilities Operating lease liabilities Income taxes payable Total current liabilities Non-current operating lease liabilities Income taxes payable Deferred income taxes Other long-term liabilities Total liabilities Commitments and contingencies (Note 13) Columbia Sportswear Company Shareholders' Equity Preferred stock: 10,000 shares authorized: none issued and outstanding Common stock (no par value); 250,000 shares authorized: 67,561 and 68,246 issued and outstanding, respectively Retained earnings Accumulated other comprehensive loss Total Columbia Sportswear Company shareholders' equity Non-controlling interest Total equity Total liabilities and equity 274,435 275,684 22.763 572.882 255,372 295,723 64,019 15,801 630,915 371.507 48,427 6,361 24.934 1.082,144 50,791 9.521 45.214 678.408 4,937 1,848,935 (4.425) 1.849,447 1,677,920 (4.063) 1,673.857 16,456 1,690,313 2.368.721 1.849,447 2.931,591 $ Table of Contents COLUMBIA SPORTSWEAR COMPANY CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Year Ended December 31, 2019 2018 330.489 274,948 2017 112.315 56 (56) (2.383) 24,262 (18,005) in thousands) Net income Other comprehensive income (loss) Unrealized holding gains (losses) on available-for-sale securities, net Unrealized gains (losses) on derivative transactions (net of tax effects of $ 830, $(7,782), and $8,176, respectively) Foreign currency translation adjustments (net of tax effects of $ 2,188, 91,557, and $(4). respectively) Other comprehensive income (loss) Comprehensive income Comprehensive income attributable to non-controlling interest Comprehensive income attributable to Columbia Sportswear Company 2,064 (263) 330.226 (18,079) 6.127 281,075 7.480 273,595 34,160 16.155 128,470 9,617 118,853 330.226 Table of Contents COLUMBIA SPORTSWEAR COMPANY CONSOLIDATED STATEMENTS OF CASH FLOWS 2019 Year Ended December 31 2018 2017 330,489 274.948 $ 112.315 121.725 5.442 (1.808) 17,832 58.230 4,208 1.462 14.291 59,145 1.927 44,851 11,286 (37,537) (84.058) (15.068) (3.547) (10.419) 18,863 (9.402) (54.197) 7.137 285,452 (25.601) (94.716) (9.771) (12.421) 19.384 66.900 (3.958) (24,197) 46.662 (19.241) 931 30.568 11.581 58,702 (3,387) 289.560 5.798 341,128 in thousands) Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation, amortization, and non-cash lease expense Loss on disposal or impairment of property, plant, and equipment Deferred income taxes Stock-based compensation Changes in operating assets and liabilities: Accounts receivable.net Inventories Prepaid expenses and other current assets Other assets Accounts payable Accrued abilities Income taxes payable Operating lease assets and abilities Other liabilities Net cash provided by operating activities Cash flows from investing activities: Purchases of short-term investments Sales and maturities of short-term investments Capital expenditures Proceeds from sale of property, plant, and equipment Not cash provided by used in) Investing activities Cash flows from financing activities: Proceeds from credit facilities Repayments on credit facilities Proceeds from issuance of common stock related to stock-based compensation Tax payments related to stock-based compensation Repurchase of common stock Purchase of non-controlling interest Cash dividends paid Cash dividends paid to non-controlling interest Payment of related party note payable Net cash used in financing activities Net effect of exchange rate changes on cash Net increase (decrease) in cash, cash equivalents and restricted cash Cash, cash equivalents and restricted cash, beginning of period Cash, cash equivalents and restricted cash, end of period Supplemental disclosures of cash flow information: Cash paid during the year for income taxes Cash paid during the year for interest on note payable to related party Supplemental disclosures of non-cash investing and financing activities: Property, plant and equipment acquired through increase in abilities (136,257) 400,501 (123,516) (518,755) 352.127 (65.622) 19 (232 231) (130,993) 36.282 (53.352) 279 (147,784) 140.728 78.186 (78,186) 19.793 (5,806) (121702) (17.880) (65,127) 70.576 (70.576) 18.484 (4.285) (201.600) 3,374 (3.374 19.046 (3.662) (35,542) (50,900) (62.664) (19.949) (190,722) (1.244) 234,214 451,795 686,000 (270.014) (8.695) (221,371) 673.166 451,795 (14.236) (84.403) 12.836 121.777 561,389 673.166 99,062 5 7708 $ 5 81,045 685 $ 9.543 11831 $ 3.188