Assignment 10C
Name: _________________________
Instructions:
Within Loblaw’s 2021 Annual Report, locate its Consolidated Statements of Earnings
on page 79 (which is its Income Statement), its Consolidated Balance Sheets on page
82 and its Consolidated Statements of Cash Flows on page 83.
Within Empire’s 2021 Annual Report, locate its Consolidated Statements of Earnings
on page 49 (which is its Income Statement), its Consolidated Balance Sheets on page
48 and its Consolidated Statements of Cash Flows on page 52.
Download the Excel template from the assignment folder on Moodle and complete
common size Statements of Earnings and Balance Sheets for 2021 and 2020 for both
companies.
Based on your analysis, answer the following questions (answers can be noted
on this document). Once complete, upload both this Word document and your
Excel document into the Assignment 10C folder on Moodle.
From the Statements of Earnings:
1. In 2021, which company is larger in terms of revenues/sales? What is this
company’s revenues/sales in 2021 in millions of dollars?
2. As a percentage change, how much did Loblaw’s revenues increase between
2020 and 2021?
3. As a percentage change, how much did Empire’s sales increase between 2020
and 2021?
4. On a common-size basis, which company had the lower cost of sales in 2021?
What was this company’s cost of sales as a % in 2021?
5. In 2021, on a common-size basis, what were Empire’s net earnings as a
percentage of its sales?
