You are provided with the following income accounts of Oakridge Ltd. for the year ended December 31, 2024. Oakridge reported profit from operations of $125,000 for the year ended December 31, 2024. Oakridge’s income tax rate is 30%. 

Interest revenue .............................................. $5,000 

Investment income or (loss) ...........................(6,000) 

OCI—Holding gain .............................................3,000 

Interest expense ...............................................8,000

Instructions 

a. Does Oakridge use ASPE or IFRS? Explain. 

b. Prepare an all-inclusive statement of comprehensive income starting with profit from operations.