Question: Access the 2010 annual report for Under Armour Inc by

Access the 2010 annual report for Under Armour, Inc. by clicking on the Investor Relations, Financials, and Annual Report & Proxy links at
a. Examine the company's income statement and balance sheet and conduct horizontal and vertical analyses of net revenues and accounts receivable. Round percentages to one decimal point (i.e., 23.9%).
b. Examine the company's Allowance for Doubtful Accounts paragraph in its Summary of Significant Accounting Policies (second note). What is the company's 2010 and 2009 balances in its allowance for bad debts account? What factors are considered when estimating the balance? How often is the balance reviewed?
c. With the gathered information, calculate the company's receivables turnover and days-inreceivables ratios for 2010 and the company's allowance ratio for 2010 and 2009.
d. Based on your answers above, write a paragraph explaining your opinion of Under Armour's accounts receivable position. Use your answers as supporting facts.

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