Refer to the financial statements of Abercrombie & Fitch in Appendix C at the end of this
Question:
Refer to the financial statements of Abercrombie & Fitch 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:
Read the annual report. Look at the income statement, balance sheet, and cash flow statement closely and attempt to infer what kinds of information they report. Then answer the following questions based on the report. 1. What types of products does it sell? 2. Did the chief executive officer (CEO) believe that the company had a good year? 3. On what day of the year does its fiscal year end? 4. For how many years does it present complete o. Balance sheets?
b. Income statements?
c. Cash flow statements? 5. Are its financial statements audited by independent CPAs? How do you know? 6. Did its total assets increase or decrease over the last year? 7. What was the ending balance of inventories? 8. Write out its basic accounting (balance sheet) equation in dollars at year-end.
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