Hibbet Sports Case
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Name:____Courtney Schwenck_______ ¬† ___________Company Name:_Hibbet Sports____________ _______ACCT 2101 Financial Statement ProjectFall 2015(50 Points)Instructions:¬† Each student has been assigned to a company. ¬†See the word document titled ‚ÄúCompany Assignments_OnlineFall2015‚ÄĚ to locate your assigned company. ¬†For each company, I have posted the most recent annual report. ¬†You will find the annual reports under the Assignments tab, Financial Statement Project (the same place you found the document you are currently reading). ¬†Save this file (Financial Statement Project_OnlineFall2015.doc) to your computer and rename it in the following format: your first and last name_your company name. ¬†For example, DawnAnderson_HomeDepot. ¬†You will then need to answer the 18 questions in this document using the correct annual report. ¬†Type your answer under each question. ¬†Use complete sentences and include the page number where you found the information. ¬†The page number should be the page in the .pdf file, not the page number from the actual document. ¬†This will allow me to scroll to the correct page.Submit the completed document through Blackboard by 5:00 p.m. on Friday, November 20, 2015. ¬†No late assignments will be accepted.This project is worth 50 points. ¬†Projects will be graded by randomly selecting 10 of the answers to check for accuracy and compliance with the instructions. ¬† It is very important that you do your best on each question. ¬†Your textbook is a great reference tool for this project. ¬†Most of the questions can be answered using the consolidated financial statements and notes to the consolidated financial statements. ¬†Make sure you are in the correct part of the annual report prior to answering any question.As always, let me know if I can be of assistance!¬†What are two things that management communicates in their management discussion?They plan to increase the total company wide square footage from 6% to 7% and they plan to expand 9 existing stores in 2015. They also communicated that based on projected net sales, they expect operating, selling and administrative rates to increase as a percentage of net sales in Fiscal 2016, and this is due to increases in information technology and health care costs. (p. 25)¬†What is the nature of your company? ¬†What types of products do they sell or what types of services do they provide?The nature of Hibbet Sports is a sports merchandise retailer. They sell footwear, apparel and athletic equipment with a high level of customer service. Their merchandise assortment emphasizes team sports complemented by localized apparel, footwear and accessories designed to appeal to a wide range of customers within each individual market. (p. 5)

What is the fiscal year of your company?  When does the fiscal year begin and when does it end?The fiscal year ranges from 52 to 53 weeks. The fiscal year started February 2st, 2014 and ends January 31st, 2015. (p. 5)What were the company’s sales revenues for the current year?  Did revenues increase or decrease from the prior year?The company’s sales revenue for the current year were $913,486,000. Revenue increased because last year’s sales revenue was $851,965,000. (p. 23)What is your company’s gross margin (also known as gross profit) in the current year?  This might be given or you might have to calculate it.The company’s gross margin for the current year was $326,784,000. (p. 23)What is the amount of current assets in the current year?  Which current asset is the largest?The amount of current assets is $355,498,000. Inventory was the largest current assets which was $240,408,000. (p. 38)7.  What is the book value of the property, plant and equipment?  Remember:  Book value is cost minus      Accumulated depreciation.        The book value of the property, plant, and equipment is $92,981,000. (p. 38)Does the company show more than one source of revenue?  If so, what are they?The company has their revenue broken down into 3 categories which are footwear, apparel, and equipment. (p. 7)What types of long-term liabilities does your company have?The types of long-term liabilities that Hibbet Sports has are capital lease obligations, deferred rent, unrecognized tax benefits, and states other liabilities. (p. 38)Does your company have more than one class of stock?  What are the classes of stock for your company?Yes, Hibbet Sports has more than one class of stock. Hibbet Sports has preferred stock and common stock. (p. 38)

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