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RA7.5 Real World Emphasis Loblaw Companies Limited and Empire Company Limited Instructions From SEDAR (www.sedar.com) or the company websites, access the financial statements of Loblaw Companies Limited for its year ended December 30, 2017, and of Empire Company Limited for its year ended May 6, 2017. Review the financial statements and answer the following questions a. What businesses are the companies in? b. Compare how the two companies report cash and cash equivalents on the SFP. What is included in the cash and cash equivalents of each and what are the amounts of these? Is any restricted cash reported by either company? c. What types of receivables do Loblaw and Empire have and what was the reported amount for each? How does each type of receivable arise? Which types are similar or different between the compa nies? How are the loans and receivables reported? d. Explain the type of credit risk that the companies have and how this risk is managed. What was the allowance for doubtful accounts at the end of the year? What percentages of the accounts receivable were past due? How was the allowance for doubtful accounts determined for each company? How does the company test for impairment? What was the bad debt expense for the year? Is the allowance adequate? e. Does either company dispose of receivables before their due date to generate cash? Comment on how this is done and what the company has retained. f. Can an accounts receivable turnover ratio be determined for either company? Why or why not