notes to the Consolidated Financial Statements (cont’d) Consolidated statement of financial position: (In thousands of Canadian dollars) CGAAP  IFRS  January 3  January 3 Note 26 (c)  2010   Reclassifications Adjustments 2010 (Note 26(c)(xiv)) ASSETS Current: Cash and cash equivalents  $  1,953  $  –  $  –  $  1,953  Accounts receivable   59,553 (1,590)   –  57,963  Income tax receivable  1,288  –  –  1,288  Other financial assets   –  1,590 – 1,590  Inventories  v   119,586  –  (278)   119,308  Prepaid expenses   2,024  –  –  2,024  Deferred income taxes  3,846  (3,846)   –  –  Total current assets  188,250  (3,846)   (278)   184,126  Non-current: Property, plant and equipment ix   59,528  –  9,533  69,061  Deferred income taxes  xii   349  81  3,198  3,628  Other receivables and sundry investments  243  –  163  406  Employee future benefits  iii   7,391  –  (7,273)   118  Intangible assets vii   19,785  –  180  19,965  Goodwill i  28,701  –  7,282  35,983   115,997 81  13,083  129,161 $  304,247 $  (3,765)   $  12,805  $  313,287  LIABILITIES AND SHAREHOLDERS’ EQUITY Current: Bank loans  vi   $  22,786  $  –  $  265  $  23,051  Accounts payable and accrued liabilities i,iv   54,876  (5,412)   441  49,905  Provisions  viii   –  1,423  –  1,423  Other current financial liabilities   –  3,989  –  3,989  Income taxes payable  29  – –  29  Current portion of long-term debt  4,582  –  –  4,582  Current portion of finance lease obligations 864  –  –  864  Total current liabilities  83,137  –  706  83,843  Non-current: Long–term debt  50,848  (928)   –  49,920  Other long-term financial liabilities   –  928  –  928  Long–term finance lease obligations  2,700  –  –  2,700  Other long-term liabilities  i,iv   1,254  –  (1,254)   – Deferred income taxes xii   4,688  (3,765)   4,782  5,705  Employee future benefits iii   4,540  –  2,451  6,991  Total liabilities  147,167   (3,765)   6,685  150,087  Shareholders’ equity Common shares  i,xi   108,804  –  (2,706)   106,098  Contributed surplus  xi   364  –  (364)   –  Retained earnings  xiii   64,690  –  (5,450)   59,240  Accumulated other comprehensive loss  ii,iii,v   (16,778)   –  14,640  (2,138) Total equity  157,080  –  6,120  163,200   $  304,247  $  (3,765)   $  12,805  $  313,287 103 AnnuAl RepoRt 2011