Refer to the consolidated financial statements and accompanying notes for Corus Entertainment Inc. reproduced in Appendix A.
Instructions
(a) Did Corus report any of the following in fiscal 2014: (1) stock dividends or stock splits, (2) other comprehensive income, or (3) corrections of prior period errors?
(b) Did Corus repurchase any shares in fiscal 2014 or 2013? If so, how much cash did it spend to reacquire the shares?
(c) Basic EPS of $1.77 for 2014 was reported in the chapter in Illustration 14-11. How much was basic EPS for 2013? Did EPS improve or weaken in 2014?
(d) Did Corus report any fully diluted EPS in fiscal 2014 and 2013? If yes, what was the difference between these amounts and the basic EPS in each year?
(e) Corus's price-earnings ratio for 2014 was reported in the chapter in Illustration 14-12. The price-earnings ratio for 2013 was 13.2 times (based on a market value per share of $25.25 on August 30, 2013). Did the price-earnings ratio improve or weaken in 2014? Is your answer consistent with your findings in part (c)? Explain.
(f) Corus's payout ratio for 2014 was reported in the chapter in Illustration 14-13. Calculate its payout ratio for 2013. Explain what caused the difference between the two years.