Question: Financial information for American Eagle is presented in Appendix A at the end of the book. Required: 1. Calculate American Eagles percentage change in total

Financial information for American Eagle is presented in Appendix A at the end of the book.

Required:

1. Calculate American Eagle’s percentage change in total assets and percentage change in net sales for the most recent year.

2. Calculate American Eagle’s percentage change in net income for the most recent year.

3. Did American Eagle issue any common stock in the most recent year?

4. Do you see the term debit or credit listed in the balance sheet? Which account types in the balance sheet increase with a debit and which ones increase with a credit?

5. Do you see the term debit or credit listed in the income statement? Which account types in the income statement increase with a debit? Which increase with a credit?

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