Refer to the financial statements of Canadian Tire Corporation and related notes given in Appendix A of this book.
1. What were the three largest adjustments to reconcile net earnings from operations to the net cash provided by operating activities? Explain the direction of the effect of each adjustment in the reconciliation.
2. What were Canadian Tire Corporation’s major uses of cash over the years 2011 and 2012? What were its major sources of cash for these activities?
3. What was the amount of free cash flow for the year ended December 29, 2012? What does this imply about the company’s financial flexibility?
4. Canadian Tire reported a large amount of cash and cash equivalents at December 29, 2012. What type of assets does the company consider as cash equivalents?

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