MTY Food Group Inc. is a Canadian franchisor and operator of numerous quick service restaurants operating under $75$ brand names such as Thai Express, Mucho Burrito, Sushi Go$,$ Jugo Juice, Tutti Frutti, and Manchu Wok. Its annual report for $2021$ included the following statements:

MTY FOOD GROUP INC.

Consolidated Statements of Income $($loss$)$

Years Ended November $30,2021$ and $2020$

$($in thousands of Canadian dollars, except per$-$share amounts$)$

$20212020$

Revenue $ $551,903$ $ $511,117$

Expenses

Operating expenses $382,572373,806$

Depreciation$$property$,$ plant and equipment, and right$-$of$-$use assets $16,17416,998$

Amortization$$intangible assets $28,44230,876$

Interest on long$-$term debt $10,11116,756$

Net interest expense on leases $2,2952,481$

Impairment charges$$right$-$of$-$use assets $1,5504,291$

Net impairment charge$$property$,$ plant and equipment, intangible assets and goodwill $5,903122,826$

$447,047568,034$

Share of net $($loss$)$ profit of a joint venture accounted for using the equity method $(709)508$

Other $($expenses$)$ income

Unrealized and realized foreign exchange $($loss$)$ gain $(300)3,230$

Interest income $198408$

Gain on de$-$recognition$/$lease modification of lease liabilities $1,3192,890$

Gain $($loss$)$ on disposal of property, plant and equipment, and assets held for sale $3,549(466)$

Revaluation of financial liabilities recorded at fair value $3,159(1,602)$

$7,9254,460$

Income $($loss$)$ before taxes $112,072(51,949)$

Income tax expense $($recovery$)$

Current $21,0368,360$

Deferred $5,093(23,414)$

$26,129(15,054)$

Net income $($loss$)$ $ $85,943$ $ $(36,895)$

Income $($loss$)$ per share

Basie $3\mathrm{.}47(1\mathrm{.}50)$

Diluted $3\mathrm{.}49(1\mathrm{.}50)$

MTY FOOD GROUP INC.

Consolidated Statement of Financial Position

As at November $30,2021$ and $2020$

$($in thousands of Canadian dollars$)$

$20212020$

Assets

Current assets

Cash $ $61,231$ $ $44,302$

Accounts receivable $57,45955,886$

Inventories $10,7079,415$

Current portion of loans and other receivables $1,1891,527$

Current portion of finance lease receivables $89,04690,303$

Income taxes receivable $3,712420$

Other assets $2,4032,792$

Prepaid expenses and deposits $7,7216,750$

$233,468211,395$

Loans and other receivables $3,0493,233$

Finance lease receivables $310,223377,824$

Contract cost asset $5,6315,171$

Deferred income taxes $185207$

Investment in a joint venture $25,91126,612$

Property, plant and equipment $17,52616,551$

Right$-$of$-$use assets $59,93769,223$

Intangible assets $820,274864,029$

Goodwill $428,390439,452$

$ $1,904,594$ $ $2,013,697$

Liabilities and shareholders$$ equity

Liabilities

Current liabilities

Accounts payable and accrued liabilities $ $119,462$ $ $111,372$

Provisions $1,6923,065$

Gift card and loyalty program liabilities $101,88995,233$

Income taxes payable $4,25618,335$

Current portion of deferred revenue and deposits $16,10013,747$

Current portion of long$-$term debt $13,11612,888$

Current portion of lease liabilities $101,973114,915$

$358,488369,555$

Long$-$term debt $347,612447,654$

Lease liabilities $371,575443,834$

Deferred revenue and deposits $44,33941,367$

Deferred income taxes $132,653128,773$

Other liabilities $1,029$

$1,255,6961,431,183$

Shareholders$$ equity

Equity attributable to owners

Capital stock $305,961306,415$

Reserves $(18,315)(11,185)$

Retained earnings $359,993286,525$

$647,639581,755$

Equity attributable to non$-$controlling interests $1,259759$

$648,898582,514$

$ $1,904,594$ $ $2,013,697$

Source: MTY Food Group Inc., Annual Report $2021.$

Additional information related to $2019$ at year$-$end is as follows:

Shareholders$$ equity $ $665,480$

Total assets $1,648,801$

Property, plant and equipment $21,363$

Accounts receivable $65,129$

Inventories $7,531$

Accounts payable and accrued liabilities $100,762$

The company$$s market price per share was $$54\mathrm{.}71$ at November $30,2021$ and $$51\mathrm{.}65$ at November