Refer to the financial statements of Canadian Tire Corporation in Appendix A at the end of this book.
1. How much did the company pay in interest for the 2012 fiscal year? Where did you find this information?
2. To what account is accumulated depreciation related?
3. What company accounts would not appear on a post- closing trial balance?
4. Prepare the closing entry for inventories.
5. What is the company’s basic earnings per share for the two years reported?
6. Compute the company’s net profit margin ratio for 2011 and 2012 based on information reported on the statement of earnings. How would you interpret the results?

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