The financial statements of (M&S) are presented in Appendix E. The company’s complete annual report, including the notes to the fi nancial statements, is available online.

Instructions

Refer to M&S’s financial statements and the accompanying notes to answer the following questions.

a. What were M&S’s total assets at 1 April 2017? At 2 April 2016?

b. How much cash (and cash equivalents) did M&S have on 1 April 2017?

c. What were M&S’s selling and marketing expenses in 2017? In 2016?

d. What were M&S’s revenues in 2017? In 2016?

e. Using M&S’s financial statements and related notes, identify items that may result in adjusting entries for prepayments and accruals.

f. What were the amounts of M&S’s depreciation and amortization expense in 2016 and 2017?