Refer to Under Armour 's statement of cash flows for the year ended December 31, 2011, as reproduced at the back of the book.

Required

1. What amount did the company spend on purchases of property and equipment during the year? Determine the effect on the accounting equation of these purchases.

2. What amount did the company pay to retire long-term debt during the year? Determine the effect on the accounting equation from the retirement of debt.