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Answered Same Day Mar 14, 2022

Solution

Khushboo answered on Mar 14 2022

106 Votes

Part 1:
a. The consolidated balance sheet contains the comparatives for 2 years i.e. cu
ent fiscal year ended Fe
uary 03, 2019 and comparative for fiscal year ended January 28, 2018. The statements of earnings have been prepared for 3 years i.e. one additional year for fiscal year ended 2016. The statement of comprehensive income, cash flow statement and statement of change in equity have also been prepared for 3 years in similar line of income statement. All of the five financial statements are audited by the auditor including notes to financial statements. The auditor of the company is KPMG LLP and based on detailed audit procedures the auditor has concluded an unqualified opinion on financial statements and internal controls over financial reporting.
. The retained earnings have been clu
ed in statement of change in shareholder equity and the statement includes opening balance of RE $39,935 million, $75 million changes due to changes in accounting effects, net income earned by the entity $11,121 million, reduction in RE by way of payment of cash dividend $4704 million and other misc. movements $4 million. After all above-mentioned adjustments, the closing balance of RE has been derived $46,423 million and the similar information has been represented for year 2017 and 2016.
c. The cash flows from operating activities are positive in each year represented i.e. $13,038 million in year 2018, $12,031 million in year 2017 and $9,783 million in year 2016. The net cash invested in investing activities are negative in three years i.e. -$2,416 million in year 2018, -$2,228 million in year 2017 and -$1,583 million in year 2016. The entity has also repaid its financing sources in each three years and the cash flows in financing activity are negative in all three represented years i.e. -$12,420 million in year 2018, -$8,870 million in year 2017 and -$7,870 million in year 2016. During the year 2016 and 2017, the net cash balance has been increased whereas in year 2018 the cash balance has been decreased.
Part II
a. Calculation of selected ratios:
    Ratio
    Formula
     Figures
    ...

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