1. Calculate, to two decimal places, the company's quick ratio using amounts reported in its financial statements...
Question:
2. Calculate, to two decimal places, the company's times interest earned ratio for the year ended December 29, 2013. Does this ratio cause you any concern about the company's ability to meet future interest obligations as they become due?
Refer to the financial statements of Rona Inc. in Appendix A at the back of this book or download the annual report from the Cases section of Connect.
Refer in Appendix A,
RONA INC.
CONSOLIDATED STATEMENTS OF INCOME
AND STATEMENTS OF OTHER COMPREHENSIVE INCOME
Years ended December, and December 29, 2013
(in thousands of Canadian dollars, except per share amounts)
The related notes form an integral part of these consolidated financial statements.
RONA INC.
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
Years ended December 29, 2013 and December 30, 2012
(in thousands of Canadian dollars)
(a) Additional detail of share capital is provided in Note 23.
The related notes form an integral part of these consolidated financial statements.
RONA INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Years ended December 29, 2013 and December 30, 2012
(in thousands of Canadian dollars)
The related notes form an integral part of these consolidated financial statements.
RONA INC.
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
as at December 29, 2013, December 30, 2012 and December 26, 2011
(in thousands of Canadian dollars)
The related notes form an integral part of these consolidated financial statements.
On behalf of the Board,
(s) ReÌal Brunet......................................... (s) Robert Chevrier
ReÌal Brunet............................................... Robert Chevrier
Chairman of the Audit Committee .................. Executive Chairman of the Board
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
Step by Step Answer:
Fundamentals of Financial Accounting
ISBN: 978-1259103292
4th Canadian edition
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh