For the years ended December 31 2019 2018 

Revenue $ 567,908 $ 508,201 

Operating earnings $ 58,370 $ 46,263 

Net earnings $ 24,159 $ 50,943 

Basic earnings per common share $ 0.63 $ 1.32 

As at December 31 Common shares outstanding 37,824,543 38,421,615 

Total assets $ 1,147,377 $ 1,111,893 

Total long-term financial liabilities $ 334,853 $ 258,588 

The Company uses EBITDA as a measure of the cash generating capacity of its businesses. 

The following table reconciles EBITDA to Net Earnings, the most comparable IFRS measure. EBITDA was $157,427 compared to $128,748 for the same period in 2018. EBITDA is determined as follows: 

For the years ended December 31 2019 2018 

Net earnings $ 24,159 $ 50,943 

Adjustments to net earnings: 

Depreciation and amortization 70,015 55,714 

Impairment reversal — (5,647) 

Interest, net 18,693 11,747 

Foreign currency loss (gain) 886 (9,590) 

Income tax expense 5,109 8,550 

Joint ventures Interest expense 6,167 4,923 

Foreign exchange loss (gain) 884 (1,079)

Depreciation 15,608 12,658 

Impairment of investment in joint ventures 15,970 — Income tax (recovery) expense (64) 529 EBITDA $ 157,427 $ 128,748

Prepare statement of earnings and statement of financial position for both years.

Answer rating: 100% (QA)

Statement of Earnings Income Statement Year Ended December 31 2019 2018 Rev View the full answer