Alberta Playground Inc. produces, markets, distributes, and installs durable playground equipment. It is a new, growing playground distributor in Canada, and is hoping to expand to other provinces shortly. Its head office is in Edmonton, and its 2023 and 2022 balance sheets and income statements follow. Assets Current assets Alberta Playground Inc. Balance Sheet ($000) Years Ended March 31 2023 2022 Cash and cash equivalents 77,891 $ 55,219 Receivables 461,207 367,469 Inventories 663,194 567,754 Prepaid expenses and other assets 51,060 29,614 Non-strategic investment 27,823 80 Other current assets 33,043 28,362 Total current assets $1,314,218 $1,048,498 0 41,343 1,043,150 1,054,756 849,430 718,295 340,238 317,813 138,793 94,266 Portfolio investment Property, Plant, & Equipment Goodwill Trademarks and other intangibles Other assets Total assets Liabilities Current liabilities Bank loans Accounts payable and accrued liabilities Income taxes payable Current portion of long-term debt Total current liabilities Non-Current Liabilities Long-term debt Other liabilities Total liabilities Equity Common shares Retained earnings Total equity Total liabilities and equity $3,685,829 $3,274,971 $ 170,989 $ 61,972 574,379 471,706 199,038 149,777 28,279 8,719 972,685 $ 692,174 381,590 153,769 379,280 189,383 $1,541,348 $1,227,533 $ 621,675 $ 588,749 1,522,806 1,458,689 $2,144,481 $2,047,438 $3,685,829 $3,274,971
Alberta Playground Inc. produces, markets, distributes, and installs durable playground equipment. It is a new, growing playground distributor in Canada, and is hoping to expand to other provinces shortly. Its head office is in Edmonton, and its 2023 and 2022 balance sheets and income statements follow. Assets Current assets Alberta Playground Inc. Balance Sheet ($000) Years Ended March 31 2023 2022 Cash and cash equivalents 77,891 $ 55,219 Receivables 461,207 367,469 Inventories 663,194 567,754 Prepaid expenses and other assets 51,060 29,614 Non-strategic investment 27,823 80 Other current assets 33,043 28,362 Total current assets $1,314,218 $1,048,498 0 41,343 1,043,150 1,054,756 849,430 718,295 340,238 317,813 138,793 94,266 Portfolio investment Property, Plant, & Equipment Goodwill Trademarks and other intangibles Other assets Total assets Liabilities Current liabilities Bank loans Accounts payable and accrued liabilities Income taxes payable Current portion of long-term debt Total current liabilities Non-Current Liabilities Long-term debt Other liabilities Total liabilities Equity Common shares Retained earnings Total equity Total liabilities and equity $3,685,829 $3,274,971 $ 170,989 $ 61,972 574,379 471,706 199,038 149,777 28,279 8,719 972,685 $ 692,174 381,590 153,769 379,280 189,383 $1,541,348 $1,227,533 $ 621,675 $ 588,749 1,522,806 1,458,689 $2,144,481 $2,047,438 $3,685,829 $3,274,971
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education