ACE HARDWARE CORPORATION 2020 Annual Report
ACE HARDWARE CORPORATION 2020 Annual Report ACE HARDWARE CORPORATION INDEX TO CONSOLIDATED FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA Page Report of Independent Auditors 2 Consolidated Balance Sheets as of January 2, 2021 and December 28, 2019 3 Consolidated Statements of Income for the years ended January 2, 2021, December 28, 2019 and December 29, 2018 4 Consolidated Statements of Comprehensive Income for the years ended January 2, 2021, December 28, 2019 and December 29, 2018 5 Consolidated Statements of Equity for the years ended January 2, 2021, December 28, 2019 and December 29, 2018 6 Consolidated Statements of Cash Flows for the years ended January 2, 2021, December 28, 2019 and December 29, 2018 7 Notes to Consolidated Financial Statements 8 Management’s Discussion and Analysis of Financial Condition and Results of Operations 27 Five Year Summary of Earnings and Distributions 37 Management’s Responsibility for Financial Statements 38 1 Report of Independent Auditors The Board of Directors Ace Hardware Corporation Report on the Financial Statements We have audited the accompanying consolidated financial statements of Ace Hardware Corporation, which comprise the consolidated balance sheets as of January 2, 2021 and December 28, 2019, and the related consolidated statements of income, comprehensive income, equity, and cash flows for each of the three fiscal years in the period ended January 2, 2021, and the related notes to the consolidated financial statements. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in conformity with U.S. generally accepted accounting principles; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free of material misstatement, whether due to fraud or error.
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