1.Presented below is information related to IncoCompany at December 31, 2019, the end of its first year of operations.

Sales revenue Cost of goods sold Selling and administrative expenses Gain on sale of plant assets Unrealized gain on debt investments (FVOCI) Interest expense Loss on discontinued operations Dividends declared and paid 310,000 140,000 50,000 30,000 10,000 6,000 12,000 5,000 Net sales 9,500,000 Cost of goods sold 4,000,000 Selling expenses 1,000,000 Administrative expenses 1,200,000 Interest expense 700,000 Gain from expropriation of land 500,000 Income tax 800,000 Income from discontinued operations 600,000 Unrealized gain on equity investment at FVOCI 900,000 Unrealized loss on futures contract designated as a cash flow hedge 400,000 Increase in projected benefit obligation due to actuarial assumptions 300,000 'Foreign translation adjustment debit 100,000 Revaluation surplus 2,500,000