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The following amounts in thousands were taken from the

December #8437
The following amounts in thousands were taken from the December

The following amounts (in thousands) were taken from the December 31 statements of financial
position of Maple Leaf Foods Inc.:

__________________2015__________2014

Total assets.........$2,630,865.......$2,876,490

Total liabilities.......2,577,731.........2,631,994

Instructions

(a) How much is Maple Leaf Foods' shareholders' equity at December 31, 2015 and 2014?

(b) Write Maple Leaf Foods' accounting equation for each year.

(c) Calculate the change in total shareholders' equity for the year ended December 31, 2015.

(d) Assume that Maple Leaf Foods had the following changes to its shareholders' equity in
2015: dividends declared of $44,668 thousand, and other shareholders' equity items of
$(188,274) thousand. How much net income did it report in 2015?

The following amounts in thousands were taken from the December

ANSWER
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