Sleep Country Canada Holdings Inc. is a retailer operating three retail banners, Sleep Country, Dormez-vous?, and Endy. Excerpts from its 2020 financial statements are in Exhibits 2.23B

Required 

a. Determine the amount of dividends declared during fiscal 2020. Where did you find this information? 

b. How does the declaration of dividends affect the accounting equation? 

c. Determine the amount of dividends paid during fiscal 2020. Where did you find this information? 

d. How does the payment of dividends affect the accounting equation? 

e. Determine Sleep Country’s gross profit margin for 2020 and 2019. Explain the results of your gross margin calculations.
f. What was Sleep Country’s cash flow pattern in 2020? Did it fit the “normal” pattern discussed in the chapter?

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SLEEP COUNTRY CANADA HOLDINGS INC. Consolidated Statements of Income and Comprehensive Income (In thousands of Canadian dollars, except per share amounts) Revenues Cost of sales Gross profit General and administrative expenses Income before finance related expenses, interest and other expenses and income taxes Finance related expenses Interest and other expenses (income)-net Income before provision for income taxes Provision for income taxes Current Deferred Net income and comprehensive income for the year Notes December 31, December 31, 2020 2019 6,14 14 12 13 $757,699 513,203 244,496 134,926 109,570 25,363 200 25,563 84,007 24,259 (3,559) 20,700 $ 63,307 $712,372 489,082 223,290 125,826 97,464 21,149 (788) 20,361 77,103 18,294 3,349 21,643 $ 55,460