Additional information for 2022

1- Cash and cash equivalents at January 2022 is QAR 2,922,000 . 2- The weighted-average number of common shares outstanding is 90,750. 3- The. company has 1,250 securities outstanding that are convertible into common shares.

4- Depreciation and amortization expenses QAR 675,000. 5- Non-cashstock-based compensation expenses QAR 279,000. 6- Increase in accounts receivable QAR 312,000. 7- Increase in accounts payable and accrued expenses QAR 129,000. 8- Increase in inventories QAR 231,000. 9- Increase in income tax payable QAR 21,000.

10-Increase in prepaid expenses QAR 168,000. 11-Capital expenditure (60% paid cash) QAR 1,950,000.

12-Repurchase of common stock QAR 1,674,000.

13-Proceeds from sales of investments QAR 2,907,000.

14-Proceeds from exercise of stock options QAR 258,000.

15-Proceeds from issuance of debt QAR 900,000.

16-Payment of dividends QAR 447,000. 17-Repayment of debt QAR 807,000. 18-Payment of capital (finance) lease obligations QAR 27,000. 19-Purchase of investments QAR 3,201,000.

Required:

Prepare the income statement for the years ended 31 December 2021 and 2022.

\begin{tabular}{|l|c|c|} \hline Account & 2022 & 2021 \\ \hline Net sales & 22,350,000 & 20,835,000 \\ Loss from flood damage & 24,000 & 36,000 \\ Interest expense & 87,000 & 66,000 \\ Interest revenue & 9,000 & 18,000 \\ Gain (loss) on foreign currency translation adjustments, net of taxes & 156,000 & (279,000) \\ Gain (losses) on derivatives, net of taxes & (81,000) & (39,000) \\ Net unrealized gain (losses) on available for sale investments, net of taxes & (15,000) & 12,000 \\ Losses on defined benefit plans, net of taxes & 0 & (3,000) \\ Cost of goods sold & 9,420,000 & 8,367,000 \\ Selling, general and administrative expenses & 9,426,000 & 8,913,000 \\ Amortization of intangible assets & 57,000 & 81,000 \\ Impairment of inventory & 3,000 & 57,000 \\ Restructuring costs & 54,000 & 36,000 \\ Income taxes expenses & 960,000 & 1,017,000 \\ \hline \end{tabular} \begin{tabular}{|l|c|c|} \hline Account & 2022 & 2021 \\ \hline Net sales & 22,350,000 & 20,835,000 \\ Loss from flood damage & 24,000 & 36,000 \\ Interest expense & 87,000 & 66,000 \\ Interest revenue & 9,000 & 18,000 \\ Gain (loss) on foreign currency translation adjustments, net of taxes & 156,000 & (279,000) \\ Gain (losses) on derivatives, net of taxes & (81,000) & (39,000) \\ Net unrealized gain (losses) on available for sale investments, net of taxes & (15,000) & 12,000 \\ Losses on defined benefit plans, net of taxes & 0 & (3,000) \\ Cost of goods sold & 9,420,000 & 8,367,000 \\ Selling, general and administrative expenses & 9,426,000 & 8,913,000 \\ Amortization of intangible assets & 57,000 & 81,000 \\ Impairment of inventory & 3,000 & 57,000 \\ Restructuring costs & 54,000 & 36,000 \\ Income taxes expenses & 960,000 & 1,017,000 \\ \hline \end{tabular}