With corporate offices in Quebec RONA Inc operates approximately 800
With corporate offices in Quebec, RONA Inc. operates approximately 800 stores of various sizes and format across Canada and is the largest Canadian distributor and retailer of hardware, renovation, and gardening products. Exhibit 11-10 presents the shareholders’ equity section of the statement of financial position and excerpts from Note 23 to RONA’s consolidated financial statements for 2013. All amounts are in thousands.
a. i. How many types of shares does RONA have authorized?
ii. What are the main differences in the types?
iii. Why would a company have different types of shares authorized?
b. Are there any preferred shares outstanding? If so, how many?
c. Compare the information included in the tables in Note 23 with a statement of changes in equity. How are the two tables similar? How are they different?
d. RONA Inc. had a net loss of $153,014 thousand for the year ended December 29, 2013, yet the company still declared dividends of $17,043 thousand on its common shares and $9,288 thousand on its preferred shares. How was it able to do this?
Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
Relevant Tutors available to help