Alberta Playground Inc. produces, markets, distributes, and installs durable playground equipment. It is a new, growing playground distributor in Canada, and is hoping to expand to other provinces shortly. Its head office is in Edmonton, Alberta, and its 2020 and 2019 balance sheets and income statements follow.

Alberta Playground Inc.
Balance Sheet ($000)
Years Ended March 31
	2020			2019
Assets
Current assets
Cash and cash equivalents	$	78,891		$	56,219
Receivables		462,207			368,469
Inventories		665,694			570,254
Prepaid expenses and other assets		51,360			29,914
Non-strategic investment		28,023			280
Other current assets		33,343			28,662
Total current assets	$	1,319,518		$	1,053,798
Portfolio investment		0			41,343
Property, Plant, & Equipment		1,083,150			1,094,756
Goodwill		853,430			722,295
Trademarks and other intangibles		343,238			320,813
Other assets		140,293			95,766
Total assets	$	3,739,629		$	3,328,771
Liabilities
Current liabilities
Bank loans	$	171,989		$	62,972
Accounts payable and accrued liabilities		575,879			473,206
Income taxes payable		200,038			150,777
Current portion of long term debt		28,479			8,919
Total current liabilities	$	976,385		$	695,874
Non-Current Liabilities
Long-term debt		381,280			383,590
Other liabilities		190,383			154,769
Total liabilities	$	1,548,048		$	1,234,233
Equity
Common shares	$	631,675		$	598,749
Retained earnings		1,559,906			1,495,789
Total equity	$	2,191,581		$	2,094,538
Total liabilities and equity	$	3,739,629		$	3,328,771

Alberta Playground Inc.
Income Statement ($000)
Years Ended March 31
	2020			2019
Revenues	$	6,165,470		$	5,950,582
Cost of sales, selling and administrative expenses		5,263,330			5,146,511
Depreciation and amortization expense		108,332			117,006
Operating profit		793,808			687,065
Interest on long-term debt		23,631			30,321
Other expenses		15,663			6,561
Earnings before income taxes		754,514			650,183
Income taxes		203,715			167,789
Profit	$	550,799		$	482,394

Assume the common shares represent 205,230 (thousand) shares issued and outstanding for the entire year ended March 31, 2020. Required: 1. Prepare a common-size balance sheet and income statement on a comparative basis for 2019 and 2020. (Round the final percentage answers to 2 decimal places. Negative answers should be indicated by a minus sign.)

ALBERTA PLAYGROUND INC. Common-Size Comparative Balance Sheet As at March 31, 2020 and March 31, 2019 2020 (%) 2019 (%) Assets Current assets Cash and cash equivalents Receivables 1.00 Inventories Prepaid expenses and other assets Non-strategic investment Other current assets Total current assets Portfolio investment Property, plant and equipment Goodwill Trademarks and other intangibles Other assets Total assets Liabilities Current liabilities Bank loans Accounts payable and accrued liabilities Income taxes payable Current portion of long-term debt Total current liabilities Long-term debt Other liabilities Total liabilities Equity Common shares Retained earnings Total equity Total liabilities and equity 2019 (%) 100.00 ALBERTA PLAYGROUND INC. Common-Size Comparative Income Statement Years ended March 31, 2020 and March 31, 2019 2020 (%) Revenues 100.00 Cost of sales and selling, general and administrative Depreciation and amortization expense Operating profit Interest on long-term debt Other expenses Profit before income taxes Income taxes Profit 2. Calculate the 2020 ratios for Alberta Playground Inc. including a comparison against the industry averages. (Round the final answers to 2 decimal places.) Ratio Industry Average 1.6:1 Favourable or Unfavourable Current ratio 1 Total asset turnover times 2.3 times 35 % Debt ratio % % 65 % times 50 times Equity ratio Times interest earned Profit margin Return on total assets Earnings per share 14% % % 20 % 1.79 $