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 Global, Showcase, and YTV. 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, 2018.
(Hint: First order the items as they would appear on the statement of earnings and then solve for the missing values.) (Enter your
answers in thousands of dollars, not in whole dollars. Loss amounts should be indicated with a minus sign.)
Cost of sales
$ 459,753
Interest expense
46,900
Net earnings (loss)
(162,220)
Revenues
Depreciation and amortization expense
22,000
Income tax expense
70,242
Total expenses, excluding income taxes
Other expenses and losses
1,053,455
General and administrative expenses
122,400
Earnings before income tax
