RONA, inc., a major competitor in the home improvement business, operates more than 600 stores in Canada.
Question:
RONA, inc., a major competitor in the home improvement business, operates more than 600 stores in Canada. For the years ended December 25, 2011, and December 26, 2010, RONA reported the following statement of financial position data (in millions):
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b. Determine the debt ratios for 2011 and 2010. Round the percentages to one decimal place.
c. What conclusions can you draw from (b) regarding the margin of protection to the creditors?
d. Using the balance sheet data for Canadian Tire Corporation from Exercise 17-18, how does RONA's debt ratio compare with that of Canadian Tire?
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RONA a 2011 1955 2780 825 2010 1911 2921 1010 b 2011 297 825 2780 2010 346 1010 2921 c The margin o...View the full answer
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Related Book For 
Accounting Volume 2
ISBN: 978-0176509743
2nd Canadian edition
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
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