Information for 2017 follows for Rolling Thunder Corp.:

Retained earnings, January 1, 2017 ......................................................... $ 1,980,000

Sales revenue .................................................................................... 36,500,000

Cost of goods sold ............................................................................. 28,500,000

Interest income ..................................................................................... 170,000

Selling and administrative expenses .......................................................... 4,700,000

Unrealized gain on FV-OCI investments (gains/losses recycled) ........................... 320,000

Loss on impairment of goodwill (not tax-deductible) ....................................... 520,000

Income tax on continuing operations for 2017 (assume this is correct) ................... 797,500

Assessment for additional income tax for 2015 (normal, recurring) ...................... 500,000

Gain on sale of FV-NI investments (normal, recurring) .................................... 110,000

Loss-other (due to flood damage) ........................................................... 390,000

Loss from disposal of discontinued division (net of tax of $87,500) .................... 262,500

Loss from operation of discontinued division (net of tax of $55,000) ................... 165,000

Dividends declared on common shares ...................................................... 250,000

Dividends declared on preferred shares ....................................................... 70,000

Rolling Thunder decided to discontinue its entire wholesale division (a major line of business) and to keep its manufacturing division. On September 15, it sold the wholesale division to Dylane Corp. During 2017, there were 800,000 common shares outstanding all year. Rolling Thunder's tax rate is 25% on operating income and all gains and losses (use this rate where the tax provisions are not given). Rolling Thunder prepares financial statements in accordance with IFRS.

Instructions

Prepare a multiple-step statement of comprehensive income showing expenses by function. Include calculation of EPS.