Statement of profit or loss and other comprehensive income

(a) Prepare a statement of profit or loss and other comprehensive income for Shanghai Venture Ltd in accordance with the requirements of IAS 1/AASB 101.

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Income Interest on investments Less: Selling expenses Advertising Sales salaries Commissions SHANGHAI VENTURE LTD Income statement (internal) for period ended 30 June 2025 Less: Administrative expenses Rates Insurance Administrative expenses Other administrative expenses Less: Finance expenses Interest expense $225 000 1 575 000 277 200 $ 2 077 200 15 120 121 500 2 556 000 551 340 3 243 960 978 300 978 300 $ 7 500 000 110 700 7 610 700 Profit before income tax Less: Income tax expense Profit 6 299 460 1 311 240 303 507 $ 1.007 733 In addition to the above information, assume that Shanghai Venture Ltd revalued its land and buildings upward by $72 000 resulting in an increase in its revaluation surplus. There was nil tax effect from this revaluation.