Problem
Financial information for American Eagle is presented in Appendix A at the end of the book.
Task
A. For the most recent year, what amount does American Eagle report for current assets? What is the ratio of current assets to total assets?
B. For the most recent year, what amount does American Eagle report for current liabilities? What is the ratio of current liabilities to total liabilities?
C. What is the change in retained earnings reported in the balance sheet?
D. For the most recent year, what is the amount of net income reported in the income statement?