Refer to the financial statements and accompanying notes of Abercrombie & Fitch given in Appendix C at the end of this book or open file ANF.pdf in the Annual Report Cases directory on the student CDROM.

Required: 1. Is the company a corporation, a partnership, or a proprietorship? How do you know? 2. Use the company's balance sheet to determine the amounts in the accounting equation (A = L

+ SE). 3. The company shows on the balance sheet that inventories are worth $120,997,000. Does this amount represent the expected selling price? Why or why not? 4. What is the company's fiscal year-end? Where did you find the exact date? 5. What are the company's obligations'? 6. Compute the company's financial leverage ratio and explain its meaning. 7. How much cash did the company spend on purchasing property, plant, and equipment each year

(capital expenditures)? Where did you find the information?