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Question 2 (20 Points) 1. Prepare common size Balance Sheets for the years ended January 1, 2022; January 2, 2021; and December 28, 2019.
Question 2 (20 Points) 1. Prepare common size Balance Sheets for the years ended January 1, 2022; January 2, 2021; and December 28, 2019. Respond to the following questions related to Balance Sheet items: a) Have any of the company's current assets or non-current assets changed significantly in relation to total assets for the years examined? What are the changes? b) Has the company's Financial leverage increased or decreased in the period? By how much? c) What might be the implications of the changes to financial leverage? 2. Prepare common size Income Statements for the periods ending January 1, 2022; January 2, 2021; and December 28, 2019. Comment on any significant changes to the common size the Income Statements.
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