Refer to the financial statements 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 CD-ROM.

Required: 1. What types of securities were included in the marketable securities reported on the company's balance sheet as at January 29, 2000? 2. Was any gain or loss realized on their sale? How can you determine this? 3. Has the firm increased or decreased its performance as measured by return on assets from 1999 to 2000? Note that the company's 1998 balance for total assets was $319,278.