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HI! Help me with the solutions thank you ARROY LTD. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 CANADIAN DOLLARS (millions of dollars) $
HI! Help me with the solutions thank you
ARROY LTD. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 CANADIAN DOLLARS (millions of dollars) $ Revenue Sales Revenue" Rent Revenue Interest Revenue Other Revenues Total revenues 1,295 466 344 442 $ 2,547 Operating expenses Cost of Goods sold Wages expense Salary expense Benefit expense Research and development expense Repairs and maintenance expense Sales and distribution costs expense Depreciation expense - equipment Depreciation expense - vehicles Depreciation expense - furniture Depreciation expense - office building Insurance expense Property taxes expense Food and beverage expense Supplies expense Interest expense Information technology expense Advertising expense Total operating expenses Profit before income tax Income Tax expense Profit 333 295 136 148 57 42 197 25 3 2 4 5 37 96 21 22 11 167 1,601 946 237 709 Denotes all of these sales were made on credit ASSETS $ Current assets Cash Short-term investments Accounts receivable Inventory Spare parts and supplies inventory Prepaid Maintenance Prepaid expenses Total current assets 1,789 548 274 84 84 338 20 $ 3,137 Investments 123 97 $ 2,487 2,706 219 1,698 305 635 209 238 31 1,393 Property plant, and equipment Land Office Building Less: Accumulated depreciation Equipment Less: Accumulated depreciation Vehicles Less: Acoumulated depreciation Furniture Less: Accumulated depreciation Total property, plant and equipment Intangible assets Trademark Patent Total intangible assets Total Assets 426 207 4,610 54 25 79 7.949 Liabilities and Shareholders' Equity Current Liabilities Accounts payable Accrued liabilities Unearned Revenue Current portion of bank loan and mortgage payable Income Tax payable Total Current Liabilities 318 180 423 379 473 1,773 Non-current liabilities Bank loan payable Mortgage Payable Bond payable Total Non-current liabilities 594 349 1,128 2,071 Total Liabilities 3,844 Shareholders' Equity Preferred Shares" Common Shares Retained Earning Total Shareholders' Equity 313 657 3,135 4,105 Total liabilities and shareholders' equity 7,949 There were no preferred dividends declared this year. ** The Weighted Average number of common shares outstandi The Market price per common share is: 20,000,000 45 Earnings Per Share: Profit - Preferred Dividends Weighted Average Number of Shares Price Earnings: Market Price per share EPS Return on Common Shareholder's Equity Profit - Preferred Dividends Common Shareholder's EquityStep by Step Solution
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