Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Refer to the financial statements for Canadian Tire Corp: Calculate the Quick Ratio for 2018. *** Round to 2 digits. *** NOTE: Enter ONLY the

image text in transcribedRefer to the financial statements for Canadian Tire Corp:

Calculate the Quick Ratio for 2018. *** Round to 2 digits. *** NOTE: Enter ONLY the ratio number, not the full ratio (i.e., for a Current Ratio of 2:1, only enter the "2")

Income Statement: For the years ended CS in millions) Revenue Cost of producing revenue Gross margin Other (income) expense Selling general and administrative expenses Net finance costs Other revenues Income before income taxes Income taxes Net income December 29, December 30, 2018 2017 $14,058.7 $13,276.7 9,347.4 8,798.5 4,711.3 4,480.2 (26.0) 0.2 3,467.8 3,254.9 151.5 112.6 50.0 1,0682 1,112.5 2852 293.7 $ 783.0 $ 818.8 December 29, December 30, 2018 2017 Balance Sheet As at (C$ in millions) ASSETS Cash and cash equivalents Short-term investments Trade and other receivables Loans receivable Merchandise inventories Income taxes recoverable Prepaid expenses and deposits Assets classified as held for sale Total current assets Long-term receivables and other assets Long-term investments Goodwill and intangible assets Investment property Property and equipment Deferred income taxes Total assets LIABILITIES Total current liabilities Total liabilities EQUITY Total equity Total liabilities and equity $ 470.4 5 183.7 933.3 5,511.3 1.997.5 15.3 138.8 5.5 9,255.8 742.6 152.7 2,272.0 364.7 4,283.2 215.8 $17.286.8 437.0 132.5 681.1 5,613.2 1,769.8 48.3 113.1 1.1 8.796.1 717.8 165.0 1,292.9 344.7 4.193.3 117.2 $15,627.0 5.258.2 11.871.8 4,529.7 10,080.9 5,415.0 $17.286.8 5,566.1 $15.627.0

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Pioneers Of Critical Accounting A Celebration Of The Life Of Tony Lowe

Authors: Jim Haslam, Prem Sikka

1st Edition

113754211X, 9781137542113

More Books

Students also viewed these Accounting questions

Question

What is the structure and scope of operations? LOP98

Answered: 1 week ago