You will continue your industry research by evaluating long-term liabilities and equity using industry examples. Using the financial statements (located in Appendix A: American Eagle Outfitters, Inc., 2020 Annual Report of the required textbook: Financial Accounting), review and compare the liabilities and equity of each company. Consider the following questions:

• What are the significant liabilities of each company? Are they current or long-term?
• What types of financing does each company rely on?
• What is the equity structure of each company?