Access the 2007 10-K for Abercrombie & Fitch (www .abercrombie.com). Required: (a) Compute the following ratios for

Question:

Access the 2007 10-K for Abercrombie & Fitch (www .abercrombie.com).
Required:
(a) Compute the following ratios for Abercrombie & Fitch:
(1) Current ratio
(2) Quick ratio
(3) Debt to total assets
(4) Long-term debt to equity
(5) turnover
(6) Inventory turnover
(7) Gross proﬁt percentage
(8) Return on equity
(b) What are Abercrombie & Fitch’s signiﬁcant accounting policies?
(c) What are some of Abercrombie & Fitch’s business risk factors?
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...