Access the annual financial statements, includingthe accompanying notes, of Loblaw CompaniesLimited for its 52 weeks ended January 2, 2016.These can be found on SEDAR (www.sedar.com)or the company's website. Review the principal statements andthe notes for all disclosures associated with leases.

Instructions
(a) Does Loblaw refer to the new lease standard, IFRS 16? If so,what disclosures are made relative to it?
(b) Is Loblaw a lessee or a lessor, or both? What typesof assets does the company lease, and what categories or classifications of leases are reported?Identify all accounts on the consolidated balancesheets and the consolidated statement of earnings,along with their dollar amounts, that relate to anylease agreements that the company is a party to.
(c) Identify the line account(s) on the consolidated statementsof cash flows where the cash lease payments are reported.Explain your answer.
(d) Calculate Loblaw's return on total assets and total debt toequity ratios for 2015.
(e) With the potential adoption of the new Leases standard,IFRS 16, would you expect there to be much of an effecton Loblaw's financial statements? If so, what would theimpact be? Attempt to determine the financial effect ofany change, assuming a capitalization/discount rate of 4%semi-annually, with lease payments being made at the endof each six-month period (and stating your other assumption:tions, if any). Compare your results with the ratios calculations.lated above for the company's 52 weeks ending January 2,2016, and briefly comment.