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Corus Entertainment Inc. is a Canadian integrated media and entertainment company that delivers engaging, interactive, and informative content to millions of people every day.
Corus Entertainment Inc. is a Canadian integrated media and entertainment company that delivers engaging, interactive, and informative content to millions of people every day. Its television services include YTV, Teletoon, and the Oprah Winfrey Network (Canada). It also owns many radio stations in the major Canadian markets. A recent annual statement of earnings contained the following items (in thousands of Canadian dollars). Solve for the missing amounts and prepare a condensed statement of earnings for the year ended August 31, 2015. (Hint. First order the items as they would appear on the statement of earnings and then solve for the missing values.) Answer is complete but not entirely correct. Cost of sales Interest expense Net earnings Revenues Depreciation expense 467,295 47,800 163,291 644,783 27,639 Income tax expense 61,242 Total expenses excluding income taxes 542,734 $ Earnings before income tax 102,049
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