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Armad Inc.'s revenue and expense accounts contained the following amounts for the period ending January 31, 2016. Prepare a statement of comprehensive income under IFRS.
Armad Inc.'s revenue and expense accounts contained the following amounts for the period ending January 31, 2016. Prepare a statement of comprehensive income under IFRS. Assume the tax rate is 26%. Armad had 350,000 common shares outstanding during the year and does not have any preferred shares. Administrative Expense $92,000 Cost of Goods Sold $972,900 Distribution Expense $211,000 Operating Income from Discontinued Operations $105,000 Sales Revenue, Net $2,162,000 Do not enter dollar signs or commas in the input boxes. Round EPS to 2 decimal places. Round all other answers to the nearest whole number. Do not use the negative sign for any values. Armad Inc. Statement of Comprehensive Income For the period ending January 31, 2016 Continuing Operations Sales Revenue, Net Cost of Goods Sold Gross Profit Administrative Expense Distribution Expense Net Income before Tax Less: Income Tax Expense Income from Continuing Operations Discontinued Operations Income from Discontinued Operations, Net of $27,300 of Income Tax Expense Total Comprehensive Income Earnings Per Share Basic and Diluted
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