Refer to the financial statements of Aritzia Inc. and the Notes to the Financial Statements in Appendix A. 

Instructions 

Answer the following questions about the company’s current and contingent liabilities: 

a. What were Aritzia’s total current liabilities at March 1, 2020? What was the increase (decrease) in total current liabilities from the previous year? 

b. Which specific current liabilities and in what order did Aritzia present on the March 1, 2020, statement of financial statement position? 

c. Calculate Aritzia’s current ratio, acid-test ratio, and inventory turnover ratio for 2020 and 2019. The inventory balance on February 25, 2018 was $78,833,000. Comment on Aritzia’s overall liquidity. 

d. Does Aritzia report any contingencies? If so, where are they disclosed? Explain the nature, amount, and significance of Aritzia’s commitments, if any.