$6.000 Advertising expense $5,800 Interest expense 6.000 Loss on discontinued operations 13,000 Cash dividends-common Depreciation expense 3.000 Rent revenue 37,000 57.000 Fees earned Retained earnings. April 1, 2020 24.000 1,800 Telephone expense 8,000 Gain on disposal of equipment Holding loss on equity investments Income tax payable 3,000 6,500 The company's income tax rate is 30%. The company reports gains and losses on its equity investments as other compi income Prepare an income statement and a separate statement of comprehensive income for Oriole Limited ORIOLE LIMITED Income Statement Year Ended March 31, 2021 Revenues 60000 Rent Revenue 38000 Fees Earned 100000 Total Operating Expenses Operating Expenses 6000 Advertising Expense PO Teenbergen ORIOLE LIMITED Income Statement Year Ended March 31, 2021 Revenues Rent Revenue y 60000 Fees Earned v 38000 100000 Total Operating Expenses Operating Expenses 6000 Advertising Expense 8000 Telephone pense 3000 Depreciation Expense 17000 Total Operating Expenses 83000 Gross Profit' llocs Other Revenues 2000 Gainon Disposal of Equipment Other Expenses 5300 Interest Expense 79700 Profit before Income Tones 23910 Income Tax Expense 55790 Profit from Continuing Operations Discontinued Operations 10000 Los on Discontinued Operations Question 3 of 5 5.7379 = Total Operating Expenses 17000 Gross Profit/Losa 83000 Other Revenues Gainon Disposal of Equipment 2000 Other Expenses Interest Expense 5300 Profit before Income Taxes 79700 Income Tax Expense 23910 Profit from Continuing Operations 55790 Descontinued Operations Loss on Discontinued Operations 10000 Profit/(LO) 45790 ORIOLE LIMITED Statement of Comprehensive Income Year Ended March 31, 2021 Profit/Los) 45790 Other Comprehensive Income:(Los) Holding Lots on Equity Investments 2000 Comprehensive Income 43790