Home Work AEM 323_Solutions - AEM 323 Section Problem Set 1...

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AEM 323 Section Problem Set 1 Covering Material from Chapter 14 “Working with Annual Reports” The following pages are the section material for Section 1. In a departure from normal procedure, this work needs to be completed on your own as “homework” and then reviewed during section. Ultimately, it will need to be handed in to get credit for the section.
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1-Finding Financial Information Refer to the annual report, financial statements and SEC form 10-K of Pacific  Sunwear of California (PacSun) and American Eagle Outfitters  (AEOS) as  provided in the lecture packet to answer the following: Required: Read the annual report for PacSun. Look at the income statement, balance  sheet, and cash flow statement closely and attempt to infer what kinds of  information they report. Then answer the following questions based on the report. 1. What types of products does it sell?  Clothes and shoes.  Apperal for young adults.  Specifically slacks and shoes. Did the Chief Executive Officer (CEO) and Executive Chairman of the Board  believe that the company had a good year? What do they cite as indicators of  their company’s recent performance? Yes; PacSun had an 18% growth in sales, 33% growth in earnings, and opened  of 113 new stores. 2. On what date does PacSun’s most recent reporting year end? 1/29/05 3. For how many years does it present complete  Balance sheets - 2 Income statements - 3  Cash flow statements? - 3 4. Are its financial statements audited by independent CPAs? How do you  know?  5. Did its total assets increase or decrease over the last year?  Increased by 644 million to 677million.
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6. How much inventory (in dollars) did PacSun have as of January 29, 2005  (accountants would call this the ending balance)?  $175,081,000 Read the documents for AEOS, answer the following: Required: 1. What is the amount of net income for the most recent year? 213,343,000 2. What amount of revenue was earned in the most recent year? 1,881,241,000 3. How much inventory (in dollars) does the company have as of January 29,  2005?  137,991,000 4. By what amount did cash and cash equivalents change during the most  recent year?  137,974,000 5. Who is the auditor for the company?  Ernst & Young
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2-Finding Financial Information Read the annual report for PacSun. Look at the income statement, balance  sheet, and cash flow statement closely and attempt to infer what kinds of  information they report. Then answer the following questions based on the report. Required:
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Home Work AEM 323_Solutions - AEM 323 Section Problem Set 1...

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