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EarthWear Hands-on Mini-case
Chapter 1 - EarthWear Introduction
AUDITING & ASSURANCE SERVICES 12e © McGraw Hill Education, 2022

The purpose of this mini-case is to familiarize you with the EarthWear Company by reviewing key pieces
of information included in the annual report in the textbook. You can locate the EarthWear Clothiers 2021
Annual Report following Chapter 1 in the textbook. In the ebook format, the the EarthWear Clothiers
2021 Annual Report appears as a separate section following Chapter 1. Please refer to the Table of
Contents in your respective text should you have issues locating the EarthWear Clothiers 2021 Annual
Report.

INSTRUCTIONS

Find the information requested in the 'WORKSHEET' tab of this spreadsheet and record your answers in
the space provided as evidence that you've visited the sites. Remember that the purpose of this exercise
is to become familiar with these annual report, so please take a few minutes to review all content. This
activity is not meant to be difficult but the more familiar you are with the company the more time you will
save on future assignments.
Fields you are to complete on the WORKSHEET are colored yellow. The color will disappear as the field is completed.

Please input your answers into Connect or print a copy of the WORKSHEET to submit unless your
instructor requests an electronic submission. The WORKSHEET is formatted to print on a single sheet of
paper.
 EARTHWEAR CLOTHIERS MINI-CASE Name: Renad Dajem
Chapter 1: EarthWear Introduction Worksheet Class or 11
Section:
Date: 2/12/2024

EarthWear Clothiers 2021 Annual Report

1. Who is the current CEO of EarthWear?

Calvin J. Rogers is the current chief executive officer of EarthWear

2. How much did Accounts Payable change in dollars and percent from 2020 to 2021?
In the period from 2020 to 2021 change in dollars is increases $13,579 or 29.8%

3. In which of the last 5 years was EarthWear's Net Income highest, and what was Net Income in that year?
2018 was the highest income and it was $41,698

4. Does EarthWear use the FIFO or LIFO inventory valuation method?

Hint: See the Notes to the Consolidated Financial Statements
EarthWear used the LIFO method

5 What is the date of Willis & Adams' Audit Report included in the Annual Report?
on February 15, 2022