The liabilities and shareholders' equity items (in thousands) that follow were taken from the March 31, 2010,

Question:

The liabilities and shareholders' equity items (in thousands) that follow were taken from the March 31, 2010, balance sheet for Saputo Inc.:

Accounts payable and accrued liabilities..........$471,106

Bank loans payable (short-term)............................61,572

Common shares.....................................................584,749

Future income taxes payable (short-term)..............8,639

Future income taxes payable (long-term)...........143,675

Income taxes payable...........................................149,377

Long-term debt.....................................................380,790

Other reductions in shareholders' equity..........159,524

Other long-term liabilities.........................................9,694

Retained earnings...............................................1,603,373

Instructions

Prepare the liabilities and shareholders' equity sections of the statement of financial position.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...