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please answer full question...im stuck ...its very urgent Base your answers to the following questions on the financial statements for Leon's Furniture Limited/Meubles Lon Lte
please answer full question...im stuck ...its very urgent
Base your answers to the following questions on the financial statements for Leon's Furniture Limited/Meubles Lon Lte in Exhibits 1.27A to 1.27D. EXHIBIT 1.27A Leon's Furniture Limited's 2016 Consolidated Statements of Financial Position LEON'S FURNITURE LIMITED Consolidated Statement of Financial Position As at December 31 As at December 31 ($ in thousands) ASSETS 2016 2015 Current assets Cash and cash equivalents [NOTES 5 AND 22] Restricted marketable securities (NOTE 22) Available-for-sale financial assets [NOTE 22) $ $ 7,859 43,985 16,600 39,079 18,691 22,960 Trade receivables [NOTE 22) 117,832 Income taxes receivable 24,920 Inventories [NOTE 6] 128,142 2,042 308,801 7,643 775 303,961 8,329 473 Deferred acquisition costs [NOTE 7] Deferred financing costs Total current assets Other assets Deferred acquisition costs [NOTE 7] Property, plant and equipment [NOTE 8] Investment properties [NOTE 9] Intangible assets [NOTE 10] Goodwill [NOTE 10) Deferred income tax assets [NOTE 20) $ 547,067 8,225 13,128 315,500 17,984 311,464 390,120 8,174 $ 505,025 6,214 13,093 323,218 18,496 318,214 390,120 9,083 $1,611,662 $1,583,463 Total assets LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Trade and other payables [NOTE 11] Provisions [NOTE 12] Income taxes payable Customers' deposits Finance lease liabilities [NOTE 13] Dividends payable [NOTE 16] Deferred warranty plan revenue $ 214,838 5,468 12,641 $ 206,076 5,343 7,266 117,990 1,421 7,183 39,839 112,446 1,954 7,141 49,380 continued As at December 31 As at December 31 2016 2015 50,000 ($ in thousands) Loans and borrowings [NOTE 14] Other liabilities Total current liabilities Loans and borrowings [NOTE 14] Convertible debentures [NOTE 14] Finance lease liabilities [NOTE 13] Deferred warranty plan revenue Redeemable share liability [NOTE 15] Deferred rent liabilities and lease inducements Deferred income tax liabilities [NOTE 20] Total liabilities Shareholders' equity attributable to the charoholders of the Company 25,000 2,124 $ 426,504 214,436 93,520 10,474 105,289 503 11,380 90,003 $ 952,109 $ 439,606 237,357 92,628 11,895 95,775 880 8,858 96,062 $ 983,061 Shareholders' equity attributable to the shareholders of the Company Common shares [NOTE 16] Equity component of convertible debentures [NOTE 14] Retained earnings Accumulated other comprehensive (loss) income Total shareholders' equity Total liabilities and shareholders' equity $ 39,184 7,089 613,426 (146) $ 659,553 $1,611,662 $ 34,389 7,089 558,526 398 $ 600,402 $1,583,463 EXHIBIT 1.27B Leon's Furniture Limited's 2016 Consolidated Statements of Income LEON'S FURNITURE LIMITED Consolidated Statement of Income Year ended Year ended LEON'S FURNITURE LIMITED Consolidated Statement of Income Year ended December 31 Year ended December 31 2016 2015 $2,031,718 ($ in thousands) Revenue (NOTE 17) Cost of sales [NOTE 6] Gross profit Selling, general and administration expenses [NOTE 18] $2,143,736 1,228,499 1,141,706 $ 915,237 $ 890,012 786,568 770,966 128,669 119,046 (17,627) Net finance costs [NOTE 19] Net income before income tax (14,481) 114,188 101,419 Income tax expense [NOTE 20] 30,597 24,790 O En enn Net income before income tax 114,188 101,419 Income tax expense [NOTE 20) 30,597 24,790 Net income $ 83,591 $ 76,629 EXHIBIT 1.27C Leon's Furniture Limited's 2016 Consolidated Statements of Cash Flows LEON'S FURNITURE LIMITED Consolidated Statement of Cash Flows Year ended December 31 Year ended December 31 2016 2015 ($ in thousands) OPERATING ACTIVITIES Net income for the year $ 83,591 $ 76,629 Year ended December 31 Year ended December 31 2016 2015 $ 83,591 $ 76,629 33,694 ($ in thousands) OPERATING ACTIVITIES Net income for the year Add (deduct) items not involving an outlay of cash Depreciation of property, plant and equipment and investment properties Amortization of intangible assets Amortization of deferred warranty plan revenue Net finance costs Deferred income taxes Gain on sale of property, plant and equipment and investment properties (Gain) loss on sale of available-for-sale financial assets 33,802 7,433 (59,118) 14,4 (4,945) 8,044 (55,180) 17,627 (5,317) (28) (897) (1,072) 1,514 (13,325) $ (90,215) (15,513) $(72,015) interest para Cash used in financing activities Net increase (decrease) in cash and cash equivalents during the year Cash and cash equivalents, beginning of year Cash and cash equivalents, end of year 36,126 7,859 $ 43,985 (38,041) 45,900 $ 7,859 EXHIBIT 1.27D Leon's Furniture Limited's 2016 Consolidated Statements of Changes in Shareholders' Equity LEON'S FURNITURE LIMITED Consolidated Statements of Changes In Shareholders' Equity Equity component of convertible debentures Accumulated other comprehensive income (loss) Common shares Retained earnings Total ($ in thousands) $7089 $34 389 $ 398 $558,526 $600,402 LEUN STURNITURE LIMITEV Consolidated Statements of Changes In Shareholders' Equity Equity component of convertible debentures Accumulated other Common comprehensive shares income (loss) $34,389 $ 398 Retained earnings Total $7,089 $558,526 $600,402 83,591 83,591 ($ in thousands) As at December 31, 2015 Comprehensive income Net income for the year Change in unrealized losses on available-for-sale financial assets arising during the year Total comprehensive income Transactions with shareholders (544) (544) (544) 83,591 83,047 (28,691) Dividends declared (28,691) 1 4,795 4,795 Management share purchase plan [NOTE 15) Total transactions with shareholders 4,795 (28,691) $613,426 (23,896) $659,553 As at December 31.2016 $7,089 $39,184 $(146) Equity component of convertible debentures Accumulated other Common comprehensive shares income (loss) $31,169 $449 Retained earnings $510,398 Total $7,089 $549,105 76,629 76,629 ($ in thousands) As at December 31, 2014 Comprehensive income Net income for the year Change in unrealized losses on available-for-sale financial assets arising during the year Total comprehensive loss Transactions with shareholders (51) (51) 11 (51) 76,629 76,578 Dividends declared (28,501) (28,501) 11 Management purchase plan [NOTE 15) 3,220 3,220 Total transactions with shareholders - 3,220 (28,501) (25,281) Question 8 of 8 - /25 3,220 3,220 Management share purchase plan [NOTE 15) Total transactions with shareholders As at December 31, 2015 3,220 (28,501) (25,281) $7,089 $34,389 $398 $558,526 $600,402 In the questions below, the year 2016 refers to Leon's fiscal year that ends December 31, 2016, and the year 2015 refers to the prior fiscal year ended December 31, 2015. Determine the amount of dividends that Leon's declared in 2016. On which financial statement(s) did you find this information? (Enter amounts in thousands.) Dividends declared in 2016 are $ This information is found in Find the following amounts in the statements: (Enter amounts in thousands. Round Gross profit as a percentage in 2016 to 1 decimal place, e.g. 15.2%.) i. Revenue in 2016 $ ii. Cost of sales in 2016 $ iii. Gross profit (as a dollar amount) in 2016 $ % Gross profit (as a percentage) in 2016 $ iv. Selling, general, and administration expenses in 2016 $ V. Net finance costs in 2016 $ vi. Income tax expense in 2016 vi. Income tax expense in 2016 $ vii. Net income in 2015 TA viii. Inventories at the end of 2016 $ ix. Trade and other payables at the beginning of the 2016 fiscal year $ X. Retained earnings at the end of 2016 $ xi. Loans and borrowings at the beginning of 2016 (include the current portion) $ xii. Cash flows provided by operating activities in 2016 $ xiii. $ Cash payments to purchase property, plant, and equipment and investment properties in 2016 xiv. Cash payments for dividends in 2016 $ viucu Dy Opel allig delivilles Ill 2010 xiii. Cash payments to purchase property, plant, and equipment and investment properties in 2016 $ xiv. Cash payments for dividends in 2016 $ XV. Cash flows generated by (used in) financing activities in 2015 $ xvi. Cash payments to repay term loans in 2016 $Step by Step Solution
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