The following amounts (in thousands) were taken from the December 31 statements of financial position of Maple
Question:
The following amounts (in thousands) were taken from the December 31 statements of financial position of Maple Leaf Foods Inc.:
__________________2015__________2014
Total assets.........$2,630,865.......$2,876,490
Total liabilities.......2,577,731.........2,631,994
Instructions
(a) How much is Maple Leaf Foods' shareholders' equity at December 31, 2015 and 2014?
(b) Write Maple Leaf Foods' accounting equation for each year.
(c) Calculate the change in total shareholders' equity for the year ended December 31, 2015.
(d) Assume that Maple Leaf Foods had the following changes to its shareholders' equity in 2015: dividends declared of $44,668 thousand, and other shareholders' equity items of $(188,274) thousand. How much net income did it report in 2015?
Step by Step Answer:
in thousands a Assets Liabilities Shareholders equity 2015 263...View the full answer
Financial Accounting Tools for Business Decision Making
ISBN: 978-1119368458
7th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
