While Rocket's simple formula for earnings might be OK for a Mom and Dad small business in, say, Kalgoorlie, GRR is a Billion dollar business now and there is a lot happening that isn't captured by Earnings = Increase in ( bank balance + trade receivables) + equipment purchased"
Whisky49 sets out most of the things that are on the expenses side of the register that are not being accounted for. Grange obviously correctly accounts for all these items in their audited reports.
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