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

Question:

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

Required:

1. Unlike most companies, Urban Outfitters does not report the amount of interest paid in cash during the most recent reporting year. Explain why you think the company has omitted this information.

2. Explain why the company does not report bonds payable on its balance sheet.

3. Describe the company’s established arrangements, if any, that permit it to borrow money if needed.

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...