Calculate the following for each of the 4 years and summarize each one. Show Calculations. Discuss direction and magnitude of

any trends:

Gross Margin and Gross Margin Percent

2018-2019 Income statement

ASSETS Cash and cash equivalents (Note 7) 437.0 S 829.7 Short-term investments 132.5 117.2 Trade and other receivables (Note 8) 681.1 690.8 Loans receivable (Note 9) 5,613.2 5,138.4 Merchandise inventories 1,769.8 1,710.7 Income taxes recoverable 48.3 42.5 Prepaid expenses and deposits 113.1 103.8 Assets classified as held for sale 1.1 4.6 Total current assets 8,796.1 8,637.7 Long-term receivables and other assets (Note 10) 717.8 763.7 Long-term investments 165.0 175.2 Goodwill and intangible assets (Note 11) 1,292.9 1,280.3 Investment property (Note 12) 344.7 266.4 Property and equipment (Note 13) 4,193.3 4,097.2 Deferred income taxes (Note 15) 114.4 82.3 Total assets 15,624.2 S 15,302.8 LIABILITIES Bank indebtedness (Note 7) S 5.9 Deposits (Note 16) 973.9 950.7 Trade and other payables (Note 17) 2,100.3 1,859.3 Provisions (Note 18) 279.0 250.8 Short-term borrowings (Note 20) 144.6 199.4 Loans payable (Note 21) 667.1 700.3 Income taxes payable 72.1 61.1 Current portion of long-term debt (Note 22) 282.3 653.4 Total current liabilities 4,519.3 4,680.9 Long-term provisions (Note 18) 45.7 45.9 Long-term debt (Note 22) 3,122.1 2,667.1 Long-term deposits (Note 16) 1,412.9 1,230.8 Deferred income taxes (Note 15) 102.3 104.2 Other long-term liabilities (Note 23) 848.2 836.6 Total liabilities 10,050.5 9,565.5 EQUITY Share capital (Note 25) 615.7 648.1 Contributed surplus 2.9 2.9 Accumulated other comprehensive (loss) income (37.5) 36.7 Retained earnings 4,169.3 4,250.9 Equity attributable to shareholders of Canadian Tire Corporation 4,750.4 4,938.6 Non-controlling interests (Note 14) 823.3 798.7 Total equity 5,573.7 5,737.3 Total liabilities and equity 15,624.2 S 15,302.8Consolidated Statements of Income For the years ended (CS in millions, except share and per share amounts) December 30, 2017 December 31, 2016 Revenue (Note 27) 13,434.9 $ 12,681.0 Cost of producing revenue (Note 28) 8,796.5 8,288.5 Gross margin 4,638.4 4,392.5 Other expense (income) 0.2 (4.3) Selling, general and administrative expenses (Note 29) 3,413.1 3,291.9 Net finance costs (Note 30) 112.6 93.9 Income before income taxes 1,112.5 1,011.0 Income taxes (Note 15) 293.7 263.5 Net income S 818.8 $ 747.5 Net income attributable to: Shareholders of Canadian Tire Corporation S 735.0 $ 669.1 Non-controlling interests (Note 14) 83.8 78.4 818.8 $ 747.5 Basic earnings per share S 10.70 $ 9.25 Diluted earnings per share 10.67 $ 9.22 Weighted average number of Common and Class A Non-Voting Shares outstanding: Basic 68,678,840 72,360,303 Diluted 68,871,847 72,555,732 The related notes form an integral part of these consolidated financial statements.Consolidated Statements of Income For the years ended (C$ in millions, except share and per share amounts) December 28, 2019 December 29, 2018 Revenue (Note 28) $ 14,534.4 S 14,058.7 Cost of producing revenue (Note 29) 9,660.6 9,347.4 Gross margin 4,873.8 4,711.3 Other (income) (13.4) (26.0) Selling, general and administrative expenses (Note 30) 3,437.5 3,467.6 Net finance costs (Note 31) 266.8 151.5 Change in fair value of redeemable financial instrument (Note 33) 50.0 Income before income taxes 1,182.9 1,068.2 Income taxes (Note 16) 288.1 285.2 Net income $ 894.8 S 783.0 Net income attributable to: Shareholders of Canadian Tire Corporation 778.4 S 692.1 Non-controlling interests (Note 15) 116.4 90.9 894.8 S 783.0 Basic earnings per share 12.60 S 10.67 Diluted earnings per share 12.58 $ 10.64 Weighted average number of Common and Class A Non-Voting Shares outstanding: Basic 61,794,565 64,887,724 Diluted 61,861,486 65,062,581 Certain prior period figures are not comparable due to the adoption of IFRS 16 (refer to Note 2). The related notes form an integral part of these consolidated financial statements.Consolidated Balance Sheets As at (C$ in millions) December 28, 2019 December 29, 2018' ASSETS Cash and cash equivalents (Note 7) 205.5 S 470.4 Short-term investments 201.7 183.7 Trade and other receivables (Note 8) 938.3 933.3 Loans receivable (Note 9) 5,813.8 5,511.3 Merchandise inventories 2,212.9 1,997.5 Income taxes recoverable 33.2 15.3 Prepaid expenses and deposits 139.3 138.8 Assets classified as held for sale 10.6 5.5 Total current assets 9,555.3 9,255.8 Long-term receivables and other assets (Note 10) 807.8 742.6 Long-term investments 138.9 152.7 Goodwill and intangible assets (Note 11) 2,414.3 2,272.0 Investment property (Note 12) 389.1 364.7 Property and equipment (Note 13) 4,283.3 4,283.2 Right-of-use assets (Note 14) 1,610.4 Deferred income taxes (Note 16) 319.2 215.8 Total assets $ 19.518.3 S 17,286.8 LIABILITIES Bank indebtedness (Note 7) 10.4 $ Deposits (Note 17) 790.8 964.5 Trade and other payables (Note 18) 2,492.4 2,425.0 Provisions (Note 19) 190.2 171.8 Short-term borrowings (Note 21) 450.0 378.1 Loans (Note 22) 621.5 654.6 Current portion of lease liabilities 335.3 Income taxes payable 72.6 110.6 Current portion of long-term debt (Note 23) 788.2 553.6 Total current liabilities 5,751.4 5,258.2 Long-term provisions (Note 19) 61.1 49.8 Long-term debt (Note 23) 3,730.2 4,000.3 Long-term deposits (Note 17) 1,653.4 1,506.7 Long-term lease liabilities 1,871.0 Deferred income taxes (Note 16) 136.4 184.5 Other long-term liabilities (Note 24) 810.1 872.3 Total liabilities 14,013.6 11,871.8 EQUITY Share capital (Note 26) 588.0 591.5 Contributed surplus 2.9 2.9 Accumulated other comprehensive (loss) income (129.9) 51.1 Retained earnings 3,729.6 3,720.7 Equity attributable to shareholders of Canadian Tire Corporation 4,190.6 4,366.2 Non-controlling interests (Note 15) 1,314.1 1,048.8 Total equity 5,504.7 5,415.0 Total liabilities and equity $ 19,518.3 $ 17.286.8 Certain prior period figures are not comparable due to the adoption of IFRS 16 (refer to Note 2)