The Outstanding Shares issued are $204,403.00 for the entire year ending March 31st., 2020

Chapter 17 Assignment Saved Help Save & Exit Submi Problem 17-7A Calculation of financial statement ratios LO4 4 40 points 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 sheets and Income statements follow. Alberta Playground Inc. Balance Sheet ($800) Years Ended March 31 2020 2019 References 79,091 $ 56, 419 462,407 368, 669 666, 194 570, 754 51,420 29,974 28,263 320 33, 403 28,722 $1,320,578 $1,054,858 41, 343 1,891,150 1,102, 756 854,230 723,095 343,838 321, 413 140,593 96, 066 $3,750,389 $3,339,531 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 liabilities Total liabilities Equity Common shares Retained earnings Total equity Total liabilities and equity $ 172,189 $ 576,179 200, 238 28,519 $ 977,125 $ 63,172 473,506 150,977 8,959 696,614 381,680 383,990 199,583 154,969 $1,549,388 $1,235, 573 $ 633,675 $ 680, 749 1,567, 326 1,503,209 $2,201,01 $2,103,958 $3,750,389 $3,339,531 Alberta Playground Inc. Income Statement ($800) 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 $ 6,185,479 $5,970,582 5,267,330 5,150,511 108,832 117, 506 899, 308 702,565 23, 691 30, 381 15,863 6,761 769, 754 665,423 284,715 168,789 $ 565, 039 $ 496,634 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 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 Equity Common shares Retained earnings Total equity Total liabilities and equity 2019 (%) 100.00 ALBERTA PLAYGROUND INC. Common-Size Comparative Income Statement Years ended March 31, 2020 and March 31, 2019 2020 (%) Revenues 100.00 Cost of sales and selling, general and administrative Depreciation and amortization expense Operating profit Interest on long-term debt Other expenses Profit before income taxes Income taxes Profit 2. Calculate the 2020 ratios for Alberta Playground Inc. Including a comparison against the Industry averages. (Round the final answers to 2 decimal places.) Ratio Favourable or Unfavourable Current ratio Industry Average 1.6:1 2.3 times 35 % times 96 Total asset turnover Debt ratio Equity ratio Times interest earned % 65% times 50 times Profit margin % 14% 20 % Return on total assets 96 Earnings per share s 1.79 Chapter 17 Assignment Saved Help Save & Exit Submi Problem 17-7A Calculation of financial statement ratios LO4 4 40 points 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 sheets and Income statements follow. Alberta Playground Inc. Balance Sheet ($800) Years Ended March 31 2020 2019 References 79,091 $ 56, 419 462,407 368, 669 666, 194 570, 754 51,420 29,974 28,263 320 33, 403 28,722 $1,320,578 $1,054,858 41, 343 1,891,150 1,102, 756 854,230 723,095 343,838 321, 413 140,593 96, 066 $3,750,389 $3,339,531 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 liabilities Total liabilities Equity Common shares Retained earnings Total equity Total liabilities and equity $ 172,189 $ 576,179 200, 238 28,519 $ 977,125 $ 63,172 473,506 150,977 8,959 696,614 381,680 383,990 199,583 154,969 $1,549,388 $1,235, 573 $ 633,675 $ 680, 749 1,567, 326 1,503,209 $2,201,01 $2,103,958 $3,750,389 $3,339,531 Alberta Playground Inc. Income Statement ($800) 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 $ 6,185,479 $5,970,582 5,267,330 5,150,511 108,832 117, 506 899, 308 702,565 23, 691 30, 381 15,863 6,761 769, 754 665,423 284,715 168,789 $ 565, 039 $ 496,634 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 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 Equity Common shares Retained earnings Total equity Total liabilities and equity 2019 (%) 100.00 ALBERTA PLAYGROUND INC. Common-Size Comparative Income Statement Years ended March 31, 2020 and March 31, 2019 2020 (%) Revenues 100.00 Cost of sales and selling, general and administrative Depreciation and amortization expense Operating profit Interest on long-term debt Other expenses Profit before income taxes Income taxes Profit 2. Calculate the 2020 ratios for Alberta Playground Inc. Including a comparison against the Industry averages. (Round the final answers to 2 decimal places.) Ratio Favourable or Unfavourable Current ratio Industry Average 1.6:1 2.3 times 35 % times 96 Total asset turnover Debt ratio Equity ratio Times interest earned % 65% times 50 times Profit margin % 14% 20 % Return on total assets 96 Earnings per share s 1.79