Acrimony Ltd. has the following balances in its general ledger on 31 December 20X8 (in thousands of Canadian dollars): Debit Credit $54,900 32,000 $ 920 9,400 2,050 3,400 4,400 Retained earnings, 31 December 20x7 Sales revenue Interest expense Cost of sales Accumulated other comprehensive income, 31 December 20x7 Dividends paid Foreign currency gains and losses on 20x8 transactions Income tax expense Selling and administrative expense Amortization on furniture and fixtures for 20X8 Write-off of obsolete inventory Impairment of tangible capital assets Additional contributed capital Loss on redemption of long-term debt Unrealized foreign currency translation loss on self- sustaining U.S. subsidiary for 20x8, net of $194 income tax 1,820 4,800 1,750 670 1, 110 28,000 810 706 Required: Prepare a statement of income and comprehensive income. (Enter answers in thousonds, not in whole Conadian dollar.) ACRIMONY LIMITED Statement of Comprehensive Income Year ended 31 December 20X8 (thousands of Canadian dollars) Sales revenue Cost of sales Gross profit Operating expenses Selling and administrative $ Amortization Inventory write-down Impairment of tangible capital assets 32,000 9,400 22,600 4.800 1,750 670 1.110 $ 8,330 Earnings from operations Oiher income (expense). Foreign currency gains Interest expense Loss on redemption of long-term debt $ 4,400 920 810 Prey. 1 of 3 BB BE Next > $ Operating expenses Selling and administrative Amortization Inventory write-down Impairment of tangible capital assets 4,800 1,750 670 1,110 $ 8,330 Earnings from operations Other income (expense) Foreign currency gains Interest expense Loss on redemption of long-term debt $ 4,400 920 810 Net income before income tax 2,670 1,820 Income tax expense Net income after tax + Other Comprehensive Income Translation loss on U.S. subsidiary Less: Income tax Comprehensive income