Canadian Tire Corporation, Limited, has been operating in Canada since 1922. It consists of five businesses in different sectors, including general merchandise, automotive parts, clothing retail, gas bars, and financial services

Canadian Tire Corporation, Limited, has been operating in Canada since 1922. It consists of five businesses in different sectors, including general merchandise, automotive parts, clothing retail, gas bars, and financial services. Canadian Tire has more than 400 stores across Canada offering automotive, sports, leisure, and home products.

For the years ended December 31, 2011, and January 1, 2011, Canadian Tire reported the following balance sheet data (in millions):

a. Determine the total liabilities as at December 31, 2011, and January 1, 2011.

b. Determine the debt ratios for 2011 and 2010. Round the percentages to one decimal place.

c. Has the margin of protection for debtholders increased or declined during this time period?

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