1 of 5 View Policies Current Attempt in Progress The following is information for Concord Corp. for the year ended December 31, 2020 -/20 Sales revenue $1,450,000 Loss on inventory due to decline in net realizable valbe $76,000 Unrealized gain on FV-OCI equity 40,000 Loss on disposal of equipment 25.000 Investments Interest income 5.000 Depreciation expense related to buildings omitted by mistake in 2019 $3,000 Cost of goods sold 870.000 Retained earnings at December 31, 2019 Selling expenses 72.500 Less from expropriation of land Administrative expenses 46.000 Dividends declared 980,000 58,000 43.000 Dividend revenue 25,000 The effective tax rate is 35% on all items. Concord prepares financial statements in accordance with IFRS. The FV-OC) equity investments trade on the stock exchange. Gains/losses on FV-OCI investments are not recycled through net income Prepare a multiple-step statement of financial performance for 2020, showing expensex by function. Ignore calculation of EPS Concord Corp. Statement of Financial Performance For the Year Ended December 31, 2020 Sales Revenue Cost of Goods Sold Gross Profit/Los Operating Expenses Selling Expense Administrative Dece 72.500 46.000 Income from Operasione Other Revenues and Ga Dividend Revenue 25.000 450,000 70000 380000 (18800 481300 Administrative Expenses 46,000 Income from Operations Other Revenues and Gains Dividend Revenue Interest Income Other Expenses and Losses 25,000 5.000 Loss on Inventory Due To Decline in Net Reallzable Value 76000 Loss on disposal of Equipment Loss from Expropriation Other Comprehensive Income Items that will not be reclassified subsequently to net income or loss: 25000 58000 (118500) 461500 following the adjustment of prior years.) Concord Corp. for the statement of changes in equity for 2020. (List items that increase retained earnings first Excerpt from Statement of Changes in Equity > S Prepare the journal entry to record the depreciation expense omitted by mistake in 2019. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Save for Later Debit Credit Attempts: 0 of 5 used Submit Anever