LinksCorp. designs and retail sale of prestige jewelry and watches. The company generates most of its sales in Canada and relies on foreign third-party vendors and suppliers. It has significant bank loans which it has needed recently to fund operations. As the retail industry shrinks and many retailers are closing brick and mortar locations, the company maintains leases in over 30 major shopping malls across Canada. Linkscorp is a publicly listed company.

December 31, 2020

December 31, 2019

Total Assets

$210,652

$133,795

Sales

$169,420

$151,049

Loss from Continuing Operations

$ (12,227)

$ (18,305)

Loss after Discontinued Operations

$ (12,779)

$ (18,686)

Question:

Users Interest in Financial Statements?

Appropriate Base and Why?

Calculations: (Use benchmark at lower end of range)

Conclusion:

Performance Materiality: