The accounting records of Food Complex Ltd., a publicly listed company, showed the amounts below...
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Accounting
The accounting records of Food Complex Ltd., a publicly listed company, showed the amounts below for the year ended 31 January 20X7, in millions of Canadian dollars. The company had 40 million common shares outstanding throughout the fiscal year.
Dr./(Cr.)
Retail
Wholesale
Dairy
Bakery
U.S.
Total
Sales revenue
$
(470
)
$
(271
)
$
(65
)
$
(85
)
$
(79
)
$
(970
)
Cost of inventory expensed
180
142
20
26
368
Employee cost
51
36
21
19
26
153
Other operating expense
20
22
12
17
31
102
Restructuring cost
5
5
Gain on sale of marketable securities
(12
)
Interest expense
16
Depreciation expense
100
General advertising expense
25
General corporation administrative expense
37
Loss on discontinued operation
(25
)
(25
)
Loss on translation of U.S. subsidiary (OCI)
7
Income tax expense (including $7 tax recovery on discontinued operation)
24
Required: 1. Prepare the SCI by nature of income and expense. (Round intermediate and "Earnings per share" answers to 2 decimal place. Enter answers in millions, not in whole Canadian dollar.)
2. Prepare the SCI by function. (Round intermediate and "Earnings per share" answers to 2 decimal place. Enter answers in millions, not in whole Canadian dollar.)
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