Analysis of Financial Statements—Roots Corporation Roots Corporation, or Roots, is a publicly held Canadian brand that sells apparel for women, men, children, and babies; leather bags; footwear; active athletic wear; small leather goods; and home furnishings. The company was founded in 1973 by Michael Budman and Don Green and opened its first store in Toronto on Yonge St. near the Rosedale subway station. It now employs 1,600 people in Canada. Roots started using the beaver logo in 1985 with the launch of its athletic brand.
Go to the Roots website and find its 2017 Annual Report.
1. Refer to the Consolidated Statement of Financial Position (the Balance Sheet), which is on page 41 of the annual report.
a. List two assets.
b. List two liabilities.
2. Refer to the Consolidated Statement of Net Income on page of the annual report.
a. What were the sales for the current period?
b. What were the sales for the previous period?
c. Have the sales increased or decreased?
3. What type of business is Roots?