SCh01 - Student Name Instructor Class McGraw-Hill/Irwin...

Student Name: Instructor
Class: McGraw-Hill/Irwin
Demonstration Case 01-01
Under Armour, Inc.
Income Statement
For the Quarter Ended September 30, 2008
(in thousands of dollars)
Revenues
Sales Revenues $231,946
Total Revenues 231,946
Expenses
Operating Expenses 113,679
General and Administrative Expenses 71,788
Other Expenses 1,736
Income Tax Expense 19,080
Total Expenses 206,283
Net Income $25,663
Correct!
Under Armour, Inc.
Statement of Retained Earnings
For the Quarter Ended September 30, 2008
(in thousands of dollars)
Retained Earnings, July 1, 2008 $117,782
Add: Net Income 25,663
Subtract: Dividends 0
Retained Earnings, September 30, 2008 $143,445
Correct!
Under Armour, Inc.
Balance Sheet
At September 30, 2008
(in thousands of dollars)
Assets:
Cash $40,152
Accounts Receivable 151,086
'Inventories 163,612
'Property and Equipment 70,645
Other Assets 49,391
Total Assets $474,886
Correct!
Liabilities
Accounts Payable $129,724
Notes Payable $14,962
Other Liabilities 10,425
Total Liabilities $155,111
Stockholders' Equity:
Contributed Capital $176,330
Retained Earnings 143,445
'Total Stockholders' Equity 319,775
Total Liabilities and Stockholders' Equity $474,886
Correct!