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Wood Work Inc and Modern Furniture Ltd. are two large home furnishing retailers, selling a wide range of furniture, major appliances, and home electronics. The

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Wood Work Inc and Modern Furniture Ltd. are two large home furnishing retailers, selling a wide range of furniture, major appliances, and home electronics. The following data were taken from the 2020 annual reports of both companies famounts in thousands of Canadian dollars): Required: 1. Based on these data, prepare a multiple-step statement of earnings for each company for the year ending December 31,2020 (showing both gross profit and earnings from operations). (Negotive onswers should be indicated by o minus sign. Enter your onswers in thousends of Conedian dollars except "No. of sheres" which should be entered in million rounded to 1 decimal place. Round "Eornings per share" to 2 decimal places.) 2. Compute the gross profit and the gross profit percentage for each company. (Enter "Gross Profit" answers in thousands of Canadian dollars. Round percentage answers to 1 decimal place (i.e., 0.124 should be entered os 12.4).)

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