Saved Alberta Playground Inc. produces, markets, distributes, and installs durable playground equipment. It is a new, growing playground distributor in Canada, and is hoping to expand to other provinces shortly. Its head office is in Edmonton, Alberta, and its 2020 and 2019 balance sheels and income statements follow Alberta Playground Inc. Balance Sheet (e) Years Ended March 31 2020 2019 $ 77,891 $ 55,219 461,207 367,469 663,194 567,754 51,06e 29,614 27,823 80 33.943 28,362 $1,314,218 $1,048, 498 41,343 1,243,150 1,054,256 849,43e 718,295 340, 238 317,813 189,793 94,266 $3,685,829 13,274,971 Assets Current assets Cash and cash equivalents Receivables Inventories Prepaid expenses and other assets Non-strategic investment Other current assets Total current assets Portfolio investment Property, Plant, & Equipment Goodwill Trademarks and other intangibles Other assets Total assets Liabilities Current liabilities Bank loans Accounts payable and accrued liabilities Income taxes payable Current portion of long term debt Total current liabilities Non-Current Liabilities Long-term debt Other abilities Totol abilities Equity Common shares Retained eroines Total equity $ 179,989 $ 61,972 574,379 471,706 199,838 149,777 28, 279 9,719 3 972,685 $ 692, 174 379,280 381,590 189,983 253 769 $1,541,48 $1,227,533 $ 621,675 53,749 1,522,886 1,458,689 $2,144,481 12,47,438 3 Saved @ 41,343 1,843,150 1,054,756 849,438 718,295 340,238 317,813 138,793 94,266 $3,685,829 $3,274,971 Portfolio investment Property, plant, & Equipment Goodwill Trademarks and other intangibles Other assets Total assets Liabilities Current liabilities Bank loans Accounts payable and accrued liabilities Income taxes payable Current portion of long term debt Total current liabilities Non-Current Liabilities Long-term debt Other liabilities Total liabilities Equity Common shares Retained earnings Total equity Total liabilities and equity $ 170,989 $ 61,972 574,379 471,706 199,038 149,777 28, 279 8,719 $ 972,685 $ 692,174 379,280 381,590 189,383 153,769 $1,541,348 $1,227,533 $ 621,675 $ 588,749 1,522,806 1,458,689 $2,144,481 $2,847,439 $3,685,829 $3,274,971 Alberta Playground Inc. Incone Statement (seee) Years Ended March 31 Revenues Cost of sales, selling and administrative expenses Depreciation and amortization expense Operating profit Interest on long-term debt Other expenses Earnings before income taxes Income taxes Profit 2020 2019 $6,065,470 $5,858,592 5,243,330 5,126,511 105,832 114,5e6 716,388 689,565 23,331 30,621 14,663 5,561 678,314 573,983 198,715 162,789 479,599 $ 411,194 $ Prev 14 of 16 431 She Assume the common shares represent 204,230 (thousand) shares issued and outstanding for the entire year ended March 31, 2020 Required: 1. Prepare a common-size balance sheet and income statement on a comparative basis for 2019 and 2020. (Round the final percentage answers to 2 decimal places. Negative answers should be indicated by a minus sign.) 2019 (%) ALBERTA PLAYGROUND INC. Common-Size Comparative Balance Sheet As at March 31, 2020 and March 31, 2019 2020 (%) Assets Current assets Cash and cash equivalents Receivables Inventones Prepaid expenses and other assets Non-strategic investment Other current assets Total current assets Portfolio investment Property, plant and equipment Goodwill Trademarks and other intangibles Other assets Total assets Liabilities Current liabilities EST CPA 3 Save 14 Assets Current assets Cash and cash equivalents Receivables Inventories Prepaid expenses and other assets Non-strategic investment Other current assets Total current assets Portfolio investment Property, plant and equipment Goodwill Trademarks and other intangibles Other assets Total assets Liabilities Current liabilities Bank loans Accounts payable and accrued liabilities Income taxes payable Current portion of long-term debt Total current liabilities Long-term debt Other liabilities Total liabilities w Saved Alberta Playground Inc. produces, markets, distributes, and installs durable playground equipment. It is a new, growing playground distributor in Canada, and is hoping to expand to other provinces shortly. Its head office is in Edmonton, Alberta, and its 2020 and 2019 balance sheels and income statements follow Alberta Playground Inc. Balance Sheet (e) Years Ended March 31 2020 2019 $ 77,891 $ 55,219 461,207 367,469 663,194 567,754 51,06e 29,614 27,823 80 33.943 28,362 $1,314,218 $1,048, 498 41,343 1,243,150 1,054,256 849,43e 718,295 340, 238 317,813 189,793 94,266 $3,685,829 13,274,971 Assets Current assets Cash and cash equivalents Receivables Inventories Prepaid expenses and other assets Non-strategic investment Other current assets Total current assets Portfolio investment Property, Plant, & Equipment Goodwill Trademarks and other intangibles Other assets Total assets Liabilities Current liabilities Bank loans Accounts payable and accrued liabilities Income taxes payable Current portion of long term debt Total current liabilities Non-Current Liabilities Long-term debt Other abilities Totol abilities Equity Common shares Retained eroines Total equity $ 179,989 $ 61,972 574,379 471,706 199,838 149,777 28, 279 9,719 3 972,685 $ 692, 174 379,280 381,590 189,983 253 769 $1,541,48 $1,227,533 $ 621,675 53,749 1,522,886 1,458,689 $2,144,481 12,47,438 3 Saved @ 41,343 1,843,150 1,054,756 849,438 718,295 340,238 317,813 138,793 94,266 $3,685,829 $3,274,971 Portfolio investment Property, plant, & Equipment Goodwill Trademarks and other intangibles Other assets Total assets Liabilities Current liabilities Bank loans Accounts payable and accrued liabilities Income taxes payable Current portion of long term debt Total current liabilities Non-Current Liabilities Long-term debt Other liabilities Total liabilities Equity Common shares Retained earnings Total equity Total liabilities and equity $ 170,989 $ 61,972 574,379 471,706 199,038 149,777 28, 279 8,719 $ 972,685 $ 692,174 379,280 381,590 189,383 153,769 $1,541,348 $1,227,533 $ 621,675 $ 588,749 1,522,806 1,458,689 $2,144,481 $2,847,439 $3,685,829 $3,274,971 Alberta Playground Inc. Incone Statement (seee) Years Ended March 31 Revenues Cost of sales, selling and administrative expenses Depreciation and amortization expense Operating profit Interest on long-term debt Other expenses Earnings before income taxes Income taxes Profit 2020 2019 $6,065,470 $5,858,592 5,243,330 5,126,511 105,832 114,5e6 716,388 689,565 23,331 30,621 14,663 5,561 678,314 573,983 198,715 162,789 479,599 $ 411,194 $ Prev 14 of 16 431 She Assume the common shares represent 204,230 (thousand) shares issued and outstanding for the entire year ended March 31, 2020 Required: 1. Prepare a common-size balance sheet and income statement on a comparative basis for 2019 and 2020. (Round the final percentage answers to 2 decimal places. Negative answers should be indicated by a minus sign.) 2019 (%) ALBERTA PLAYGROUND INC. Common-Size Comparative Balance Sheet As at March 31, 2020 and March 31, 2019 2020 (%) Assets Current assets Cash and cash equivalents Receivables Inventones Prepaid expenses and other assets Non-strategic investment Other current assets Total current assets Portfolio investment Property, plant and equipment Goodwill Trademarks and other intangibles Other assets Total assets Liabilities Current liabilities EST CPA 3 Save 14 Assets Current assets Cash and cash equivalents Receivables Inventories Prepaid expenses and other assets Non-strategic investment Other current assets Total current assets Portfolio investment Property, plant and equipment Goodwill Trademarks and other intangibles Other assets Total assets Liabilities Current liabilities Bank loans Accounts payable and accrued liabilities Income taxes payable Current portion of long-term debt Total current liabilities Long-term debt Other liabilities Total liabilities w