Refer to Under Armour, Inc.'s, financial statements in Appendix B and online in the filings section of www.sec.gov. Suppose you are an investor considering buying Under Armour, Inc.'s, common stock. The following questions are important. Show amounts in millions.

Requirements

1. Which was larger for Under Armour, Inc., during 2014: (1) net revenues or (2) cash collected from customers? Why? Show computation. (Challenge)

2. Investors are vitally interested in a company's sales and profits and its trends of sales (net revenues) and profits over time. Consider Under Armour, Inc.'s, net revenues and net income (net loss) during the period from 2012 through 2014. Compute the percentage increase or decrease in net revenues and also in net income (net loss) from 2012 to 2014. Which item grew faster during this two-year period-net revenues or net income (net loss)? Can you offer a possible explanation for these changes? (Challenge)