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help fast Excerpts from the 2020 statement of income, statement of operations, and notes to the financial statements of High Liner Foods Inc. are in
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Excerpts from the 2020 statement of income, statement of operations, and notes to the financial statements of High Liner Foods Inc. are in Exhibits 2.21A to 2.21C. Although it is a Canadian company, based in Lunenburg. Nova Scotia, High Liner prepares its financial statements in U.S. dollars, However, the general format and accounting policies are similar to the financial statements you have seensolar. HICHUNER FOOOS INCORPORATED Cemelidated statement of Financial Potition (in thousands of Uaited states dellary) NotesInuary22021Dectmber29,2019 AsseTs Corrent assets cash Mconons receivabie income taves recrivable Other fmancial insets inventeries Prepaid expence. Tetal current assets Non-current assets Property.plant and equigment Rught of une asues Deferred finance certs Deferred inceme tawes Other recelvables and assets ineanoble asisets Coodwe Total non-currenk assets Total ansets 302,935 60,927 2609 211 25 7 250801 3517194,176391.1964322 8 9 11 18 25 10 10 UABIUTES AND SHAREHOLDER5 ECUTY Current liabilities barki loans Accounts payable and accrued liabilies Comtract liabiaty Provision Other curent hranclal lablities Other current lubliaies income tanes payable Curent portion af loneterm debt Current portion of lease alabities Total current liablities Non-current liabilities Loneterindtet Other boncterm financiat liablities Other fonterm labuties tantermilease Iabihties Orteredincome tuwes Thure enelowe bervitis Total nopcurient Iubibies. Toedliabiftins 107221 15.018 287 2.401 2.134 47 142.168 148.893 157.677 424839 11.14 t06,985 11 Th? 34 34 3. What was High Liner's gross profit as percentage of revenues in 2020? (Round answers to 1 decimal place, eg. 52.78) How did this compare with 2019 ? High Liner's gross profit was in 2020 relative to 2019. In the accompanying notes to the financial statements, High Liner discloses separately the sales earned outside of Canada. Determine the change in High Liner's sales outside of Canada. Base your answers on High Liner's note 24 , Geographicinformation (Exhibit 221C). (Round answers to 1 decimal place, e.g. 52.7\%.) Use the exhibits to answer the following questions. What percentabe of High Liner's assets was financed by tivellities? (Round answers to 1 decimal place, es: 52,7.) 2020 2019 Has this percentage increased or decreased from 2019 ? How much did total assetschange in 2020 over 2019 ? (Enter amounts in thousands of dollars. Round percentese answer to 1 decimal place, e.s.52.7x.) thit ti kirsi Step by Step Solution
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