you will need to obtain the most recent annual report for Gildan Activewear Inc.

Use the annual report you have obtained to answer the following questions": 1. Who, or what larger group/entity, is responsible for preparing the financial statements and accompanying notes? (1 mark) 2. What was the opinion of the auditors? (1 mark) 3. Discuss what this opinion means regarding the accuracy of the financial statements. (4 marks) 4. What is the fiscal year end for the years shown in the financial statements? What will the next fiscal year end date for Gildan Activewear Inc. be? (3 marks) 5. What is the basis of measurement for the numbers in the financial statements? Are there any exceptions to this? If so, indicate what they are and what their basis of measurement is. (6 marks) 6. What cost formula does Gildan Activewear Inc. use for valuing the cost of its inventory? (1 mark) 7. Calculate the current ratio for the fiscal year(s) shown in the financial statements. Comment on your results. Also, comment on the usefulness of this ratio as calculated (not in general). If it is not feasible to calculate for a year in the financial statements, indicate why not, and what you would do to obtain the necessary information. (5 marks) 8. Calculate the receivables turnover ratio and the average collection period for the fiscal year(s) shown in the financial statements. If it is not feasible to calculate for a year in the financial statements, indicate why not, and what you would do to obtain the necessary information. (5 marks) 9. What is the carrying amount of long-term leased assets for the most recent fiscal year, if any? (2 marks) 10. What is the period over which Gildan Activewear Inc, depreciates land? What is the amount of the depreciation expense for land in the most recent fiscal year? (2 marks) 11. Calculate the inventory turnover ratio for the most recent fiscal year. (2 marks) 11. Calculate the inventory turnover ratio for the most recent fiscal year. (2 marks) 12. Calculate basic earnings per share for the most recent fiscal year. (2 marks) Use the annual report you have obtained to answer the following questions": 1. Who, or what larger group/entity, is responsible for preparing the financial statements and accompanying notes? (1 mark) 2. What was the opinion of the auditors? (1 mark) 3. Discuss what this opinion means regarding the accuracy of the financial statements. (4 marks) 4. What is the fiscal year end for the years shown in the financial statements? What will the next fiscal year end date for Gildan Activewear Inc. be? (3 marks) 5. What is the basis of measurement for the numbers in the financial statements? Are there any exceptions to this? If so, indicate what they are and what their basis of measurement is. (6 marks) 6. What cost formula does Gildan Activewear Inc. use for valuing the cost of its inventory? (1 mark) 7. Calculate the current ratio for the fiscal year(s) shown in the financial statements. Comment on your results. Also, comment on the usefulness of this ratio as calculated (not in general). If it is not feasible to calculate for a year in the financial statements, indicate why not, and what you would do to obtain the necessary information. (5 marks) 8. Calculate the receivables turnover ratio and the average collection period for the fiscal year(s) shown in the financial statements. If it is not feasible to calculate for a year in the financial statements, indicate why not, and what you would do to obtain the necessary information. (5 marks) 9. What is the carrying amount of long-term leased assets for the most recent fiscal year, if any? (2 marks) 10. What is the period over which Gildan Activewear Inc, depreciates land? What is the amount of the depreciation expense for land in the most recent fiscal year? (2 marks) 11. Calculate the inventory turnover ratio for the most recent fiscal year. (2 marks) 11. Calculate the inventory turnover ratio for the most recent fiscal year. (2 marks) 12. Calculate basic earnings per share for the most recent fiscal year. (2 marks)