Let's look at Dick's Sporting Goods (Dicks) some more. Think about Dick's. What assets did Dick's need to operate? Return to Dick's Annual Report (see the Continuing Financial Statement Analysis Problem in Chapter 2 for instructions on how to access the Annual Report).

Now answer the following questions:

1. Look at Dick's balance sheet. What long-term assets does Dick's own? How much has Dick's invested in each type of long-term assets as of January 31, 2015 and February 1, 2014?

2. Look over footnote 1 on page 49, footnote 2 on page 52, and footnote 4 on page 54 of Dick's 2014 annual report. Why does Dick's have tangible and intangible assets?

3. Look over footnote 1 on pages 49 and 50. Read about how Dick's accounts for 1) property and equipment and 2) intangible assets. How is Dick's depreciating its property and equipment and amortizing its intangible assets?

4. What is Dick's return on assets (ROA) and fixed asset turnover for the year ending January 31, 2015? What do these ratios tell you?

5. Looking back over your answers to question 1 through 4, how do you think Dick's is performing? What do you think of Dick's management of assets?