Loblaw Companies Limited is Canada's food and pharmacy leader and the nations largest retailer. The company operates stores such as Real Canadian Suoerstore and Shoppers Drug Mart in communities across Canada. In 2020, Loblaw renewed it's application to repurchase up to 17.9 million more common shares after 13.3 million and 13.6 million were repurchased and cancelled in 2020 and 2019, respectively. Financial information for Loblaw for the years ended January 2, 2021 and December 28, 2019 follows(in million dollars except per share dat) 2020 2019 Profit for the Year $1,192.00 $1,131.00 Shareholder's Equity 11,119.00 11,321.00 Dividends declared to common shareholders 453.00 453.00 Number of common shares outsanding(million) 346.70 359.00 Wtd. Ave. number of common shares outstanding(million) 355.50 365.40 Instructions: a. Explain the different effects that a cash dividend, stock dividend, and stock split would have on Loblaws assets, liabilities, shareholder's equity and the number of shares outstanding. b. What is the likely reason that Loblaw has repurchased its common shares? c. During the fiscal periods ended January 2, 2021 and December 28, 2019, Loblaw repurchased and cancelled a total of 26,917,976 common shares. The weighted average share price in fiscal 2020, 2019, and 2018 was $68.22, $69.21 and $65.45, respectively. Common dividends declared in fiscal 2020, 2019 and 2018 were $1.28, $1.24, and $1.155 respectively. Comment on the impact the reacquisition may have on the market price and dividends per share. d. Calculate the return on the shareholders' equity, earmings per share, and payout ratio for the shareholders for the fiscal periods 2020 and 2019. Comment on the company's profitability. Shareholders' equity at December 29, 2019 was $12,178