Assignment: Accounting

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CP1-2

CP1-2 Finding Financial Information LO 1-1
Refer to the financial statements of Urban Outfitters in Appendix C at the end of this book.
Required:
1. What is the amount of net income for the most recent year?
Net income
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2. What amount of revenue was earned in the most recent year?
Net sales
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3. How much inventory (in dollars) does the company have as of January 31, 2012?
Inventory
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4. By what amount did cash and cash equivalents * change during the most recent year?
Cash and Cash Equivalents by
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5. Who is the auditor for the company?
* Cash equivalents are short-term investments readily convertible to cash whose value is unlikely to change.

Check Figures

CP 1-2 Finding Financial Information
Requirement 2: Net Sales = $2,473,801,000.

Sheet2

list1 list2 name new list Financial Statements
Accounts payable Net income Pretax income Auditor's Report increased
Cash Net loss Pretax loss Balance Sheet decreased
Common stock Income Statement
Equipment Add: Net Income Notes to Financial Statements
Income tax expense Add: Net loss Statement of Cash Flows
Income taxes payable Less: Net income Statement of Shareholders' Equity
Interest payable Less: Net loss
Inventory of merchandise
Investments Add: Dividends
Long-term debt Less: Dividends
Note payable
Receivables from customers
Retained earnings
Salary payable
Stock issuance
Total expenses
Total sales revenue