Alberta Playground Inc. produces, markets, distributes, and installs durable playground equipment. It is a new, growing...

 

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Alberta Playground Inc. produces, markets, distributes, and installs durable playground equipment. It is a new, growing playground distributor in Canada, and is hoping to expand to other provinces shortly. Its head office is in Edmonton, and its 2023 and 2022 balance sheets and income statements follow. Assets Current assets Cash and cash equivalents Receivables Inventories Prepaid expenses and other assets Non-strategic investment Other current assets Total current assets Portfolio investment Property, Plant, & Equipment Goodwill Trademarks and other intangibles Other assets Total assets Alberta Playground Inc. Balance Sheet ($000) Years Ended March 31 Liabilities Current liabilities Bank loans Accounts payable and accrued liabilities Income taxes payable Current portion of long-term debt Total current liabilities Non-Current Liabilities Long-term debt Other liabilities Total liabilities Equity Common shares Retained earnings Total equity Total liabilities and equity Alberta Playground Inc. Income Statement ($000) Years Ended March 31 Revenues Cost of sales, selling and administrative expenses Depreciation and amortization expense Operating profit Interest on long-term debt Other expenses Earnings before income taxes Income taxes Profit 2023 79,391 $ 2022 56,719 462,707 368,969 666,944 571, 504 51,510 30,064 28,123 380 28,812 33,493 $1,322,168 $1,056,448 41,343 1,114,756 724, 295 0 1,103,150 855,430 344,738 141,043 $3,766,529 $3,355,671 322,313 96,516 63,472 473,956 151,277 9,019 $ 172,489 $ 576,629 200,538 28,579 $ 978,235 $ 697,724 384,590 382,280 190,883 $1,551,398 $1,237,583 155, 269 $ 636,675 $ 603,749 1,578,456 1,514,339 $2,215,131 $2,118,088 $3,766,529 $3,355,671 2023 2022 $6,215,470 $6,000,582 5,273,330 5,156,511 118, 256 109,582 832,558 23,781 16,163 792,614 206,215 170,289 586,399 $ 517,994 725,815 30,471 7,061 688, 283 Assume the common shares represent 205.730 (thousand) shares issued and outstanding for the entire year ended March 31, 2023. Required: 1. Prepare a common-size balance sheet and income statement on a comparative basis for 2023 and 2022. (Round the final percentage answers to 2 decimal places. Negative answers should be Indicated by a minus sign.) Alberta Playground Inc. produces, markets, distributes, and installs durable playground equipment. It is a new, growing playground distributor in Canada, and is hoping to expand to other provinces shortly. Its head office is in Edmonton, and its 2023 and 2022 balance sheets and income statements follow. Assets Current assets Cash and cash equivalents Receivables Inventories Prepaid expenses and other assets Non-strategic investment Other current assets Total current assets Portfolio investment Property, Plant, & Equipment Goodwill Trademarks and other intangibles Other assets Total assets Alberta Playground Inc. Balance Sheet ($000) Years Ended March 31 Liabilities Current liabilities Bank loans Accounts payable and accrued liabilities Income taxes payable Current portion of long-term debt Total current liabilities Non-Current Liabilities Long-term debt Other liabilities Total liabilities Equity Common shares Retained earnings Total equity Total liabilities and equity Alberta Playground Inc. Income Statement ($000) Years Ended March 31 Revenues Cost of sales, selling and administrative expenses Depreciation and amortization expense Operating profit Interest on long-term debt Other expenses Earnings before income taxes Income taxes Profit 2023 79,391 $ 2022 56,719 462,707 368,969 666,944 571, 504 51,510 30,064 28,123 380 28,812 33,493 $1,322,168 $1,056,448 41,343 1,114,756 724, 295 0 1,103,150 855,430 344,738 141,043 $3,766,529 $3,355,671 322,313 96,516 63,472 473,956 151,277 9,019 $ 172,489 $ 576,629 200,538 28,579 $ 978,235 $ 697,724 384,590 382,280 190,883 $1,551,398 $1,237,583 155, 269 $ 636,675 $ 603,749 1,578,456 1,514,339 $2,215,131 $2,118,088 $3,766,529 $3,355,671 2023 2022 $6,215,470 $6,000,582 5,273,330 5,156,511 118, 256 109,582 832,558 23,781 16,163 792,614 206,215 170,289 586,399 $ 517,994 725,815 30,471 7,061 688, 283 Assume the common shares represent 205.730 (thousand) shares issued and outstanding for the entire year ended March 31, 2023. Required: 1. Prepare a common-size balance sheet and income statement on a comparative basis for 2023 and 2022. (Round the final percentage answers to 2 decimal places. Negative answers should be Indicated by a minus sign.)

Answer rating: 100% (QA)

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