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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
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 (amounts 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). (Negative answers should be indicated by a minus sign. Enter your answers in thousands of Canadian dollars except "No. of shares" which should be entered in million rounded to 1 decimal place. Round "Earnings per share" to 2 decimal places.)
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