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Finding Financial Information Refer to the financial statements of Urban Outfitters given in Appendix C at the end of this book.
1. What is the amount of accrued compensation at the end of the most recent reporting year?
2. By what amount did accounts payable change over the most recent reporting year? How did this change in accounts payable affect cash flows from operating activities during the most recent reporting year?
3. What is the amount of long-term liabilities at the end of the most recent reporting year?
4. Does the company have any liabilities associated with gift cards and merchandise credits?

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