2.99 See Answer

Question: Refer to the financial statements of American

Refer to the financial statements of American Eagle Outfitters in Appendix B at the end of the book. financial statements of American Eagle Outfitters:
Refer to the financial statements of American Eagle Outfitters in Appendix B at the end of the book.

financial statements of American Eagle Outfitters:
Required:
1. How much cash did the company pay for income taxes in its 2014 fiscal year (for the year ended January 31, 2015)?
2. What was the company’s best quarter in terms of sales in its 2014 fiscal year? Where did you find this information?
3. Give the closing entry for the Other Income (net) account.
4. What does Accounts Receivable consist of? Provide the names of the accounts and their balances as of January 31, 2015. Where did you find this information?
5. Compute the company’s total asset turnover ratio (rounded to three decimal places) for the three years reported. What does the trend suggest to you about American Eagle Outfitters?

Required: 1. How much cash did the company pay for income taxes in its 2014 fiscal year (for the year ended January 31, 2015)? 2. What was the company’s best quarter in terms of sales in its 2014 fiscal year? Where did you find this information? 3. Give the closing entry for the Other Income (net) account. 4. What does Accounts Receivable consist of? Provide the names of the accounts and their balances as of January 31, 2015. Where did you find this information? 5. Compute the company’s total asset turnover ratio (rounded to three decimal places) for the three years reported. What does the trend suggest to you about American Eagle Outfitters?





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Far the Year Ende) e n, ergt per shere Jaary S1, Febrary . Febraary 2 Juary 2 Juary 19 a , rn and 2014 Swwmary of Operatrions (2) Total net revenue 3,282,867 3,305,802 3,475,802 3,120,065 2,945 294 Comparable sales increase (decreaseX3) Gross profit Gross profit as a percentage of net sales Operating income Operating income as a percentage of net sales Income from continuing operations Income from continuing operations as a percentage of net sales Per Share Resalty (5% 1,154,674 (6)% 4% (1% 1,182,151 1,113,999 1,390,322 1,144,594 35.2% 155,765 33.7% 40.0% 36.7% 40.1% 141,055 394,606 269335 339.552 4.7% 4.3% 11.4% 8.6% I1.5% KR, T87 82,983 264,098 175,279 195,731 2.6% 2.5% 7.6% 5.6% 6.7% Income from continuing operations per common share-basic 0.46 0.43 135 0.90 0.98 Income from continuing operations per common share-diluted Weighted average 0.46 0.43 1.32 0.89 0.97 common shares Outstanding- basie Weighted average 194,437 192,802 196,211 194.445 199.979 common shares outstanding-diluted Cash dividends per 195,135 194,475 200,665 196,314 201,818 044 common share Balance Sheet 0.50 0.375 2.05 Information Total cash and shon-tem investments Long-lerm investments Total assets 410,697 428,935 630,992 745,044 734.695 847 5,915 1,696.908 1,694, 164 1,756,053 1,950,802 1,879,998 Shon-term debt Long-term debt Stockholders' equity Working capital Current ratio 1,166, 178 S12,513 2.23 1,139,746 1,221,187 1,416,851 1,351,071 431,420 1.94 705,898 2.62 882,087 3.18 786,573 3.03 Avenge return on Stockholders' equity Other Flnancial 7.7% 7.0% 176% I1.0% 9.6% Information (2) Total stores at year-end Capital expenditures Net sales per average selling square foott(4) Total selling square feet at end of period 1,056 245,002 1,066 1,044 93,939 1,069 1,077 75,904 278,499 89 466 $25 347 602 547 526 5,294,744 5,205,948 4,962,923 5,028,493 5,026,144


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> Explain the application of the cost principle to an item in the ending inventory.

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2.99

See Answer