Finding Financial Information Refer to the financial statements of Urban Outfitters given in Appendix C at the

Question:

Finding Financial Information
Refer to the of Urban Outfitters given in Appendix C at the end of this book.
Required:
1. How much cash and cash equivalents does the company report at the end of the current year?
2. What was the change in and how did it affect net cash provided by operating activities for the current year?
3. Compute the company’s gross profit percentage for the most recent two years. Has it risen or fallen? Explain the meaning of the change.
4. Where does the company disclose its revenue recognition policy? When does the company record revenues for the “sale” of gift cards?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... 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...