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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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Case 1-74 Comparative Analysis: Under Armour, lnc., versus Columbia Sportswear

Refer to the 10-K reports of Under Armour, Inc., and Columbia Sportswear that are available for download from the companion website at CengageBrain.com

Required:

Answer the following questions:

With regard to the income statement:

  1. What amounts did Under Armour report as revenues, expenses, and net income for the year ended December 3 l, 2016? What amounts did Columbia report as revenues, expenses, and net income for the fiscal year ended December 31, 2016?
  2. Compare any trends that you detect with regard to revenues‘ expenses. and net income.

To determine

Concept Introduction:

Annual report:

The annual report of the company includes the financial and other operating descriptions about the business for a particular year.

Financial statements: Financial statements are prepared to summaries the account at the end of the period. The statements prepared are Income statement, Balance sheet, Statement of owner’s equity and Cash flows statements.

Requirement-a:

To Indicate:

The amount of Revenue, expense and net income of Under Armour Inc. and Columbia Sportswear for the year ended Dec. 31, 2016.

Explanation

The amount of Revenue, expense and net income of Under Armour Inc. and Columbia Sportswear for the year ended Dec. 31, 2016 can be found from the Consolidated Statements of Income as follows:

    Year 2016 Under Armour Inc. Columbia Sportswear
To determine

Concept Introduction:

Annual report:

The annual report of the company includes the financial and other operating descriptions about the business for a particular year.

Financial statements: Financial statements are prepared to summaries the account at the end of the period. The statements prepared are Income statement, Balance sheet, Statement of owner’s equity and Cash flows statements.

Requirement-b:

To Indicate:

The comparison of trends in Revenue, expense and net income of Under Armour Inc. and Columbia Sportswear for the year ended Dec. 31, 2016.

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