CP1-2CP1-2 Finding Financial Information LO 1-1Refer 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 incomeThis information can be found on the2. What amount of revenue was earned in the most recent year?Net salesThis information can be found on the3. How much inventory (in dollars) does the company have as of January 31, 2012?InventoryThis information can be found on the4. By what amount did cash and cash equivalents * change during the most recent year?Cash and Cash EquivalentsbyThis information can be found on the5. Who is the auditor for the company?* Cash equivalents are short-term investments readily convertible to cash whose value is unlikely to change. Check FiguresCP 1-2 Finding Financial InformationRequirement 2: Net Sales = $2,473,801,000. Sheet2list1list2name new listFinancial StatementsAccounts payableNet incomePretax incomeAuditor's ReportincreasedCashNet lossPretax lossBalance SheetdecreasedCommon stockIncome StatementEquipmentAdd: Net IncomeNotes to Financial StatementsIncome tax expenseAdd: Net lossStatement of Cash FlowsIncome taxes payableLess: Net incomeStatement of Shareholders' EquityInterest payableLess: Net lossInventory of merchandiseInvestmentsAdd: DividendsLong-term debtLess: DividendsNote payableReceivables from customersRetained earningsSalary payableStock issuanceTotal expensesTotal sales revenue P1-1P1-1 Preparing an Income Statement, Statement of Stockholders Equity, and Balance Sheet LO1-1Assume that you are the president of Highlight Construction Company. At the end of the first year (December 31, 2014) of operations, the following financial data for the company are available:  Cash$25,600  Receivables from customers (all considered collectible)10,800  Inventory of merchandise (based on physical count and priced at cost)81,000  Equipment owned, at cost less used portion42,000  Accounts payable owed to suppliers46,140  Salary payable for 2014 (on December 31, 2014, this was owed to an employee2,520    who was away because of an emergency; will return around January 10, 2015,    at which time the payment will be made)  Total sales revenue128,400  Expenses, including the cost of the merchandise sold (excluding income taxes)80,200  Income taxes expense at 30% × pretax income; all paid during 2014?    Common stock (December 31, 2014)87,000  Dividends declared and paid during 201410,000(Note: The beginning balances in Common stock and Retained earnings are zero because it is the first year of operations.)Required:1. Prepare a summarized income statement for the year 2014.HIGHLIGHT CONSTRUCTION COMPANYIncome StatementFor the Year Ended December 31, 20142. Prepare a statement of stockholders' equity for the year 2014HIGHLIGHT CONSTRUCTION COMPANYStatement of Stockholders’ EquityFor the Year Ended December 31, 2014Common StockRetained EarningsBalance December 31, 2013Balance December 31, 20143. Prepare a ba.

1. CP1-2CP1-2 Finding Financial Information LO 1-1Refer 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 incomeThis information can be
found on the2. What amount of revenue was earned in the most
recent year?Net salesThis information can be found on the3.
How much inventory (in dollars) does the company have as of
January 31, 2012?InventoryThis information can be found on
the4. By what amount did cash and cash equivalents * change
during the most recent year?Cash and Cash EquivalentsbyThis
information can be found on the5. Who is the auditor for the
company?* Cash equivalents are short-term investments readily
convertible to cash whose value is unlikely to change.
Check FiguresCP 1-2 Finding Financial
InformationRequirement 2: Net Sales = $2,473,801,000.
Sheet2list1list2name new listFinancial StatementsAccounts
payableNet incomePretax incomeAuditor's
ReportincreasedCashNet lossPretax lossBalance
SheetdecreasedCommon stockIncome StatementEquipmentAdd:
Net IncomeNotes to Financial StatementsIncome tax
expenseAdd: Net lossStatement of Cash FlowsIncome taxes
payableLess: Net incomeStatement of Shareholders'
EquityInterest payableLess: Net lossInventory of
merchandiseInvestmentsAdd: DividendsLong-term debtLess:
DividendsNote payableReceivables from customersRetained
earningsSalary payableStock issuanceTotal expensesTotal sales
revenue
P1-1P1-1 Preparing an Income Statement, Statement of
Stockholders Equity, and Balance Sheet LO1-1Assume that you
are the president of Highlight Construction Company. At the
end of the first year (December 31, 2014) of operations, the
following financial data for the company are
available: Cash$25,600 Receivables from customers (all

2. considered collectible)10,800 Inventory of merchandise (based
on physical count and priced at cost)81,000 Equipment owned,
at cost less used portion42,000 Accounts payable owed to
suppliers46,140 Salary payable for 2014 (on December 31,
2014, this was owed to an employee2,520 who was away
because of an emergency; will return around January 10,
2015, at which time the payment will be made) Total sales
revenue128,400 Expenses, including the cost of the
merchandise sold (excluding income taxes)80,200 Income taxes
expense at 30% × pretax income; all paid during 2014?
Common stock (December 31, 2014)87,000 Dividends
declared and paid during 201410,000(Note: The beginning
balances in Common stock and Retained earnings are zero
because it is the first year of operations.)Required:1. Prepare a
summarized income statement for the year 2014.HIGHLIGHT
CONSTRUCTION COMPANYIncome StatementFor the Year
Ended December 31, 20142. Prepare a statement of
stockholders' equity for the year 2014HIGHLIGHT
CONSTRUCTION COMPANYStatement of Stockholders’
EquityFor the Year Ended December 31, 2014Common
StockRetained EarningsBalance December 31, 2013Balance
December 31, 20143. Prepare a balance sheet at December 31,
2014.HIGHLIGHT CONSTRUCTION COMPANYBalance
SheetAt December 31, 2014AssetsTotal assets$ -
LiabilitiesTotal liabilities$ -Stockholders' EquityTotal
stockholders' equity$ -Total liabilities and stockholders'
equity$ -
Check FiguresP1-1 Preparing an Income Statement, Statement
of Stockholders Equity, and Balance Sheet LO1-1Assume that
you are the president of Highlight Construction Company. At
the end of the first year (December 31, 2014) of operations, the
following financial data for the company are
available: Cash$25,600 Receivables from customers (all
considered collectible)10,800 Inventory of merchandise (based
on physical count and priced at cost)81,000 Equipment owned,
at cost less used portion42,000 Accounts payable owed to

3. suppliers46,140 Salary payable for 2014 (on December 31,
2014, this was owed to an employee2,520 who was away
because of an emergency; will return around January 10,
2015, at which time the payment will be made) Total sales
revenue128,400 Expenses, including the cost of the
merchandise sold (excluding income taxes)80,200 Income taxes
expense at 30% × pretax income; all paid during 2014?
Common stock (December 31, 2014)87,000 Dividends
declared and paid during 201410,000(Note: The beginning
balances in Common stock and Retained earnings are zero
because it is the first year of operations.)Required:1. Prepare a
summarized income statement for the year 2014.HIGHLIGHT
CONSTRUCTION COMPANYIncome StatementFor the Year
Ended December 31, 2014Net income$33,7402. Prepare a
statement of stockholders' equity for the year 2014HIGHLIGHT
CONSTRUCTION COMPANYStatement of Stockholders’
EquityFor the Year Ended December 31, 2014Common
StockRetained EarningsBalance December 31, 2013Balance
December 31, 20143. Prepare a balance sheet at December 31,
2014.HIGHLIGHT CONSTRUCTION COMPANYBalance
SheetAt December 31, 2014AssetsTotal assets$
159,400LiabilitiesTotal liabilities$ -Stockholders' EquityTotal
stockholders' equity$ -Total liabilities and stockholders'
equity$ -
Sheet2list1list2name new listFinancial StatementsAccounts
payableNet incomePretax incomeAuditor's
ReportincreasedCashNet lossPretax lossBalance
SheetdecreasedCommon stockIncome StatementEquipmentAdd:
Net IncomeNotes to Financial StatementsIncome tax
expenseAdd: Net lossStatement of Cash FlowsIncome taxes
payableLess: Net incomeStatement of Shareholders'
EquityInterest payableLess: Net lossInventory of
merchandiseInvestmentsAdd: DividendsLong-term debtLess:
DividendsNote payableReceivables from customersRetained
earningsSalary payableStock issuanceTotal expensesTotal sales
revenue

4. MBA6014 Course Alignment Map
Financial Accounting
• Program Overview
• MBA6014 Diagram
• MBA6014 Outline
ASSIGNMENTS
1. Unit 1: Financial Statement Overview
2. Unit 1: The Effects of Transactions in T-Accounts
3. Unit 2: Financial Performance Analysis
4. Unit 2: Adjusting Entries
5. Unit 3: Classified Balance Sheet
6. Unit 3: Bank Reconciliation and Journal Entries
7. Unit 3: Internal Controls
8. Unit 4: Inventory Analysis
9. Unit 4: Property, Plant, and Equipment Analysis
10. Unit 4: Inventory Valuation Methods and Ethical
Considerations
11. Unit 5: Current Liabilities and Cash Flow
12. Unit 5: Stockholders Equity
13. Unit 6: Bond Reporting
14. Unit 6: Statement of Cash Flows
MBA Central | Credits
© 2018 Capella University. All Rights Reserved.
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eAlignmentMap/coursemap.html

5. MBA6014 Course Alignment Map
Financial Accounting
• Program Overview
• MBA6014 Diagram
• MBA6014 Outline
MBA Program Overview
The Capella MBA program is designed to help you develop as a
practitioner-scholar to meet the needs
and future challenges of your current or desired profession. To
ensure that your coursework helps you
develop the knowledge, skills, and values necessary for your
personal, professional, and academic
goals, the Capella MBA program is based on a set of outcomes
and competencies grounded in
foundational knowledge needed as an MBA leader and
developed with input from both the
practitioner and scholarly perspectives. The information within
these pages helps you to gain a clearer
understanding of:
• Why you're taking the course.
• What you can expect to learn in the course.
• How the course applies to your program.
• How the information presented is relevant.
Listed below are your MBA Program Outcomes. Click each one
to see a description of the skills,
knowledge, and experiences you will work to complete
throughout your program.

6. Click the Diagram and Outline tabs above to see how your
MBA6014 activities align to your course
competencies and overall program outcomes.
Program Outcome 1 Apply foundational knowledge and an
understanding of business systems,
processes, and technology within and across core disciplines.
Program Outcome 2 Integrate information across disciplines and
from differing perspectives.
Program Outcome 3 Think critically and analytically to provide
evidence-based solutions to
business challenges and opportunities.
Program Outcome 4 Apply innovative, strategic, and sustainable
approaches to business
practice and planning.
Program Outcome 5 Lead and collaborate in virtual, global and
culturally diverse
environments.
Program Outcome 6 Integrate principles of ethics and integrity
into business decisions.
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Program Outcome 7 Communicate clearly and effectively in a
business environment.

7. MBA Central | Credits
© 2018 Capella University. All Rights Reserved.
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Financial Statement Overview Scoring Guide
Due Date: End of Unit 1.
Percentage of Course Grade: 5%.
CRITERIA NON-PERFORMANCE BASIC PROFICIENT
DISTINGUISHED
Prepare an income
statement for a
company.
22%
Does not prepare an
income statement for
a company.
Prepares a partial
income statement
for a company.
Prepares an income
statement for a
company.

8. Prepares an income
statement for a company
using the appropriate
financial data and
computations.
Prepare a statement
of stockholders'
equity for a
company.
23%
Does not prepare a
statement of
stockholders' equity
for a company.
Prepares a partial
statement of
stockholders' equity
for a company.
Prepares a
statement of
stockholders' equity
for a company.
Prepares a statement of
stockholders' equity for a
company using the
correct financial data and
computations.
Prepare a balance
sheet for a

9. company.
22%
Does not prepare a
balance sheet for a
company.
Prepares a partial
balance sheet for a
company.
Prepares a balance
sheet for a company.
Prepares a balance sheet
for a company using the
correct financial data and
computations.
Identify financial
information for a
company.
23%
Does not identify
financial information
for a company.
Identifies some of
the financial
information for a
company.
Identifies financial
information for a
company.

10. Identifies financial
information for a company
using the correct financial
data and computations.
Communicate in a
manner that is
professional and
consistent with
expectations for
members of the
business
professions.
10%
Communicates in a
manner that is not
professional or
consistent with
expectations for
members of the
business
professions.
Communicates in a
manner that is
inconsistent with
expectations for
members of the
business
professions.
Communicates in a
manner that is
professional and

11. consistent with
expectations for
members of the
business
professions.
Communicates in a
manner that is
professional, scholarly,
and consistent with
expectations for members
of the business
professions, and adheres
to APA guidelines,
creating work appropriate
for publication.
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