ACTIVITY 1. The trial balance of XYZ COMPANY shows the following items of income and expense for the period ended December 31, 2019: Accounts Dr. C. Sales 1.800.000 Interest income 120,000 Gains 40,000 Inventory, beg. 100,000 Purchases 400,000 Freight-in 20,000 Purchase returns 10,000 Purchase discounts 14.000 Freight-out 50.000 Sales commission 60,000 Advertising expense 30,000 Salaries expense 600,000 Rent expense 60,000 Depreciation expense 80,000 Utilities expense 40.000 Supplies expense 20,000 Transportation and travel expense 10,000 Insurance expense 24,000 Taxes and licenses 140.000 Interest expense 4,000 Miscellaneous expense 2,000 Loss on the sale of equipment 30,000 Totals 1.670,000|1.984,000 Additional information: a. Ending inventory is P160,000 b. One-half of the salaries, rent, and depreciation expenses pertain to the sales department. The sales department does not share in the other expenses. Requirements: a. Prepare the statement of comprehensive income using the function of expense method (Multi-step approach). Use the pro-forma statement provided below. Be sure to place a proper heading for the statement b. Prepare a partial notes" showing breakdowns for the selected line items