Refer to the 2013 financial statements for Canadian Tire Corporation in Appendix D.

Required:
a. Which measurement basis does the company use for its PPE (cost or revaluation)? Where in the annual report does the company disclose this choice? What reason does the company provide for this choice?
b. How much does the company report for “Property and equipment” (net of accumulated depreciation) at the end of 2013?
c. Why does the company not report any depreciation on the income statement?
d. Where in the financial statements is the information on depreciation expense?
e. What method of depreciation does the company use? What are the company’s depreciation rates on (i) buildings and (ii) fixtures and equipment?
f. Are the actual depreciation amounts in 2013 consistent with the rates in (e)?
g. How much interest did the company capitalize for property under construction in 2013? What interest rate did the company use for this purpose?