P12-8 (Static) Analyzing Financial Statements by Using Appropriate Ratios LO12-7, 12-8, 12-9, 12-10, 12-11 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: Depreciation-property, plant and equipment, and right-of-use Amortization-intangible assets Revenue Expenses 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) Operating expenses assets Interest on long-term debt 2021 $551,903 2020 $511,117 382,572 373,806 16,174 16,998 28,442 30,876 10,111 16,756 Net interest expense on leases 2,295 2,481 Impairment charges-right-of-use assets 1,550 4,291 Net impairment charge-property, plant and equipment, intangible assets and goodwill 5,903 122,826 447,047 568,034 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 Interest income (300) 3,230 198 408 Gain on de-recognition/lease modification of lease liabilities Gain (loss) on disposal of property, plant and equipment, and assets held for sale 1,319 2,890 3,549 (466) Revaluation of financial liabilities recorded at fair value 3,159 (1,602) 7,925 4,460 Income (loss) before taxes 112,072 (51,949) Income tax expense (recovery) Current Deferred Net income (loss) Income (loss) per share Basie Diluted 21,036 8,360 5,093 (23,414) 26,129 (15,054) $ 85,943 $(36,895) 3.47 (1.50) 3.49 (1.50)