Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

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. Assume the common shares represent 205,530 (thousand) shares issued and outstanding for the entire year ended March 31 , 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.) Assume the common shares represent 205,530 (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.) \begin{tabular}{l} Assets \\ Current assets \\ Cash and cash equivalents \\ Receivables \\ Inventories \\ Prepaid expenses and other assets \\ Other current assets \\ Total current assets \\ \hline Portfolio investment \\ \hline Property, plant and equipment \\ \hline Goodwill \\ \hline Trademarks and other intangibles \\ \hline Other assets \\ Total assets \\ \hline Liabilities \\ Current liabilities \\ \hline Bank loans \end{tabular} Equity Common shares Retained earnings Total equity Total liabilities and equity ALBERTA PLAYGROUND INC. Common-Size Comparative Income Statement Years ended March 31, 2020 and March 31, 2019 Revenues 2020(%)2019(%) Cost of sales and selling, general and administrative Depreciation and amortization expense \begin{tabular}{l} Revenues \\ \hline 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 \\ \hline Income taxes \\ \hline Profit \end{tabular}

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

An Auditors Guide To Auditing Financial Statements In The UK

Authors: Steve Collings

1st Edition

1526527480, 978-1526527486

More Books

Students also viewed these Accounting questions

Question

4. Are there any disadvantages?

Answered: 1 week ago

Question

3. What are the main benefits of using more information technology?

Answered: 1 week ago

Question

start to review and develop your employability skills

Answered: 1 week ago