Base your answers to the following problems on the 2009 financial statements of Mosaid Technologies Incorporated in Exhibit 1-9. Mosaid Technologies is an Ontario corporation that licenses and develops semiconductor and communication technologies.
In Exhibit 1-9
Consolidated Balance Sheets

It designs memory tech­nology and supplies semiconductor technologies around the world. In the questions below, the year 2009 refers to Mosaid Technologies' fiscal year that ends April 30, 2009, and the year 2008 refers to the prior fiscal year ending April 30, 2008.
a. Determine the amount of dividends that Mosaid Technologies declared in 2009. On which financial statement did you find this information? Determine the amount of dividends that Mosaid Technologies paid in 2009. On which financial statement did you find this information?
b. Find the following amounts in the statements of Mosaid Technologies:
i. Revenues in 2009
ii. Research and development expense in 2009
iii. Foreign exchange gain in 2008
iv. Income tax expense in 2009
v. Net income (loss) in 2009
vi. Accounts receivable at the end of 2009
vii. Accounts payable and accrued liabilities at the beginning of 2009
viii. Retained earnings at the end of 2009
ix. Other long-term liabilities at the end of 2009 (current and long-term)
x. Cash produced from operating activities in 2009
xi. Cash payments to acquire short-term marketable securities in 2009
xii. Cash used to repay the mortgage in 2008
xiii. Cash proceeds from new share issuances in 2009
xiv. Cash produced or used for investing activities in 2009
c. Did Mosaid Technologies finance its business primarily from creditors (total liabili­ties) or from shareholders (shareholders' equity) in 2009? Support your answer with the appropriate calculations.
d. List the two largest sources of cash and the two largest uses of cash in 2009. (Consider operations to be a single source or use of cash.)
e. The short-term marketable securities decreased on the balance sheet from $36,246 thousand in 2008 to $18,888 thousand in 2009. Using information from the cash flow statement, explain the net change in this account.
f. Total assets of Mosaid Technologies at April 30, 2009, and April 30, 2008, were $ 172,459 thousand and $170,259 thousand, respectively. Total shareholders' equity at these dates was $110,547 thousand and $122,379 thousand, respectively. Calculate the ratio of total liabilities to total assets for each of the 2009 and 2008 fiscal years. Explain the change from 2008 to 2009.

Transcribed Image Text:

Year Ended April 30, 2009 April 30,2008 Current Assets Cash and cash equivalents Marketable securities (Note 15) Accounts receivable Prepaid expenses Other asset (Note 15) Future income taxes recoverable (Note 11) 22,133 36,246 12,304 486 $ 32,899 18,888 10,434 759 446 11,519 74,945 563 79,402 17,549 $172,459 11,015 82.184 Capital assets (Note 3) Acquired intangible assets (Note 3) Future income taxes recoverable (Note I1) 957 70,130 16,988 $170,259 Current Liabilities Accounts payable and accrued liabilities Income tax payable Deferred revenue Other liability (Note I5) Current portion of other long-term liabilities (Note 5) $ 6,341 ,432 3,432 20,869 32,074 1,039 28,799 61,912 $ 7.723 356 1,146 318 5.345 14,888 1.797 31.195 47,880 Deferred gain on sale-leaseback (Note 4) Other long-term liabilities (Note 5) Shareholders' Equity (Note 6) Share capital (Note 7) Contributed surplus (Note 6) Retained earnings Accumulated other comprehensive income (Note 6) 94,741 3,753 11,607 446 110,547 $172,459 100.403 2,997 9,297 31 22,379 $170,259