Shoppers Drug Mart Limited's 2011 annual financial statements can be found at the end of this volume.

Question:

Shoppers Drug Mart Limited's 2011 annual can be found at the end of this volume. The company is Canada's largest drug store chain.
Instructions
Review the consolidated statements of financial position and notes to the of Shoppers Drug Mart Limited and answer the following questions.
(a) What makes up the current liabilities reported at December 31, 2011? Be as specific as possible.
(b) What is the nature of the current liability Provisions?
(c) Calculate Shoppers' current ratio and quick ratio for December 31, 2011, and the two preceding fiscal periods. Comment on the company's liquidity.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...