Prepare a statement of cash flows (indirect method) for the year ended January 29, 2022 Prepare a side by side comparative statement contrasting two bases of reporting (1) net income and (2) cash flows from operations Which of the two financial reports in (b) better reflects profitability Explain Discuss the company's accounting income components a) Permanent b) Transitory c) Value Irrelevant Did you discover any type of Cosmetic Earning Management made by the management in the last 2 years Which strategy did they use a) Increasing Income b) Big Bath c) Income Smoothing And how does this affect the companys stock performance in the stock market Created by EDGAR Online, Inc CALERES INC BALANCE SHEET Form Type 10 K Period End Jan 29, 2022 Date Filed Mar 28, 2022 Consolidated Balance Sheets ($ thousands) January 29, 2022 January 30, 2021 February 1, 2020 January 29, 2022 January 30, 2021 February 1, 2020 Assets Price per share 23 08 15 11 17 55 Current assets Cash and cash equivalents $ 30,115 $ 88,295 $ 45,218 Receivables, net of allowances of $29,930 in 2021 and $31,971 in 2020 122,236 126,994 162,181 Inventories, net of adjustment to last in, first out cost of $1,255 in 2021 and $793 in 2020 596,807 487,955 618,406 Income taxes 33,073 33,925 6,189 Property and equipment, held for sale 5,455 Prepaid expenses and other current assets 48,790 45,387 50,305 Total current assets 836,476 782,556 882,299 Prepaid pension costs 99,139 88,833 50,660 Lease right of use assets 503,430 554,303 695,594 Property and equipment, net 150,238 172,437 224,846 9,735 Goodwill and intangible assets, net 227,503 240,071 245,275 294,304 Other assets 27,140 28,850 28,994 Total assets $ 1,843,926 $ 1,867,050 $ 2,431,707 Liabilities and Equity Current liabilities Borrowings under revolving credit agreement $ 290,000 $ 250,000 $ 275,000 Mandatory purchase obligation Blowfish Malibu 39,134 267,018 Trade accounts payable 331,470 280,501 54,720 Employee compensation and benefits 88,034 48,641 7,186 Income taxes 22,622 5,069 127,869 Lease obligations 128,495 153,060 Other accrued expenses 164,992 129,104 119,157 Total current liabilities 1,025,613 905,509 850,950

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Question: Prepare a statement of cash flows (indirect method) for the year ended January 29, 2022. Prepare a side-by-side comparative statement contrasting two bases of reporting:

Prepare a statement of cash flows (indirect method) for the year ended January 29, 2022. Prepare a side-by-side comparative statement contrasting two bases of reporting: (1) net income and (2) cash flows from operations. Which of the two financial reports in (b) better reflects profitability? Explain. Discuss the company's accounting income components: a) Permanent b) Transitory c) Value Irrelevant Did you discover any type of Cosmetic Earning Management made by the management in the last 2 years? Which strategy did they use: a) Increasing Income b) Big Bath c) Income Smoothing? And how does this affect the company’s stock performance in the stock market?

Created by EDGAR Online, Inc.

CALERES INC
BALANCE_SHEET
Form Type: 10-K
Period End: Jan 29, 2022
Date Filed: Mar 28, 2022

	Consolidated Balance Sheets

	($ thousands)	January 29, 2022	January 30, 2021	February 1, 2020		January 29, 2022	January 30, 2021	February 1, 2020
	Assets				Price per share	23.08	15.11	17.55
	Current assets:
	Cash and cash equivalents	$ 30,115	$ 88,295	$ 45,218
	Receivables, net of allowances of $29,930 in 2021 and
	$31,971 in 2020	122,236	126,994	162,181
	Inventories, net of adjustment to last-in, first-out
	cost of $1,255 in 2021 and $793 in 2020	596,807	487,955	618,406
	Income taxes	33,073	33,925	6,189
	Property and equipment, held for sale	5,455	-
	Prepaid expenses and other current assets	48,790	45,387	50,305
	Total current assets	836,476	782,556	882,299

	Prepaid pension costs	99,139	88,833	50,660
	Lease right-of-use assets	503,430	554,303	695,594
	Property and equipment, net	150,238	172,437	224,846
				9,735
	Goodwill and intangible assets, net	227,503	240,071	245,275
				294,304
	Other assets	27,140	28,850	28,994
	Total assets	$ 1,843,926	$ 1,867,050	$ 2,431,707

	Liabilities and Equity
	Current liabilities:
	Borrowings under revolving credit agreement	$ 290,000	$ 250,000	$ 275,000
	Mandatory purchase obligation - Blowfish Malibu	-	39,134	267,018
	Trade accounts payable	331,470	280,501	54,720
	Employee compensation and benefits	88,034	48,641	7,186
	Income taxes	22,622	5,069	127,869
	Lease obligations	128,495	153,060
	Other accrued expenses	164,992	129,104	119,157
	Total current liabilities	1,025,613	905,509	850,950
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Question: Prepare a statement of cash flows (indirect method) for the year ended January 29, 2022. Prepare a side-by-side comparative statement contrasting two bases of reporting:

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