Go to Connect for the financial statements of RONA Inc. The following questions illustrate the types of information that you can find in the financial statements and accompanying notes. (Hint: Use the notes.)
Required:
1. What subtotals does the company report in its statement of earnings?
2. Over what useful life are buildings depreciated?
3. What portion of property and equipment is composed of land and parking lots?
4. The company reported cash flow from operating activities of $ 125.6 million for fiscal year 2012. However, its cash and cash equivalents increased by $ 3.9 million during the same year. Explain how that happened.