For the year ended December 31, 2020, Patsy Inc. had income from continuing operations of $1,500,000. During 2020, it disposed of its Calgary division at a loss before taxes of

$125,000. Before the disposal, the division operated at a before-tax loss of $150,000 in 2019 and $175,000 in 2020. Patsy also had an unrealized gain in its Availablefor-sale investments (FVOCI) of $27,500 (net of tax). It accounts for its investments in accordance with IFRS 9. Patsy had 50,000 outstanding common shares for the entire 2020 fiscal year and its income tax rate is 30%.

Required:

a. Prepare a partial statement of comprehensive income with proper disclosures for Patsy Inc. beginning with income from continuing operations. Patsy follows IFRS.

b. How would the statement in part

(a) differ if Patsy followed ASPE?