Evaluate the company's financial standing using audited financial statements

As at July 31 (in 000's)	2023	2022	As at July 31 (in 000's)	2021
ASSETS			ASSETS
Current			Current
Cash	$12,139	$14,023	Cash	$15,907
Accounts receivable	8,658	11,629	Accounts receivable	14,600
Non-hedging financial derivatives (Note 5)	143	26	Non-hedging financial derivatives (Note 5)	-91
Work-in-progress (Note 6)	10,230	9,222	Work-in-progress (Note 6)	8,214
Prepaid expenses and other current assets	1,186	857	Prepaid expenses and other current assets	528
	32,356	35,757		39,158
Capital assets (Note 7)	28,137	29,024	Capital assets (Note 7)	29,911
Deferred income taxes (Note 4)	2,295	2,110	Deferred income taxes (Note 4)	1,925
	$62,788	$66,891		$70,994
LIABILITIES			LIABILITIES
Current			Current
Accounts payable and accrued liabilities (Note 16)	$4,163	$6,818	Accounts payable and accrued liabilities (Note 16)	$9,473
Unearned revenue on work-in-progress (Note 6)	655	693	Unearned revenue on work-in-progress (Note 6)	731
Current portion of long-term debt and lease liabilities (Note 8)	1,448	4,360	Current portion of long-term debt and lease liabilities (Note 8)	7,272
Long-term debt subject to demand provisions (Note 8)	2,799	5,129	Long-term debt subject to demand provisions (Note 8)	7,459
	9,065	17,000		24,935
Long-term debt and lease liabilities (Note 8)	7,816	3,479	Long-term debt and lease liabilities (Note 8)	-858
SHAREHOLDERS' EQUITY			SHAREHOLDERS' EQUITY
Share capital (Note 9)	16,436	16,332	Share capital (Note 9)	16,228
Contributed surplus (Note 10)	1,270	1,769	Contributed surplus (Note 10)	2,268
Retained earnings	28,201	28,311	Retained earnings	28,421
	45,907	46,412		46,917
	$62,788	$66,891		$70,994

Answer rating: 100% (QA)

Based on the financial statements provided here is my evaluation of the companys financial standing ... View the full answer