BE5-8 (similar to Lawrence Corporation provided the following partial-trial balance for the current year. EE (Click the icon to view the partial ial balance.) Prepare a statement of net income and additional disclosures that would meet IFRS requirements. Indicato iterms that IFRS requires be reported on the statemen format. Lawrence Statement of Profit and Loss Required Disclosure For the Year Ended December 31 $ 130,000 Sales Less: Cost of Goods Sold Gross Proft Operating Expenses: General and Administrative Expenses Selling Expenses (41,000) $ 89,000 s 21,080 17,500 Total Operating Expenses Operating Profit Interest Income Interest Expense Other Revenues and Expenses Profit Before Tax Income Tax Expense Net Profit 50,420 1,400 (2,700) X 1,510 S 50,630 (20.252)x S 30.378 x Prepare a statement of additional disclosures that meets IFRS requirements. (If a box is not used in the table leave the box empty, do not select a label or enter a Choose from any list or enter any number in the input fields and then click Check Answer. Clear All that would meet IFRS requirements, Indicate items that IFRS requires format. Operating Profit Interest Income Interest Expense Other Revenues and Expenses Profit Before Tax Income Tax Expense Net Profit Prepare a statement of additional disclosures that meets IFRS requirements. $ 50,420 1,400 (2,700)X 1,510 $ 50,630 0,252 $30.378 (f a box is not used in the table leave the box empty do Statement of Additional Disclosures For the Year Ended December 31 Choose from any list or enter any number in the input fields and then cick Check Answer BE5-8 (similar to Lawrence Corporation provided the following partial-trial balance for the current year. EE (Click the icon to view the partial ial balance.) Prepare a statement of net income and additional disclosures that would meet IFRS requirements. Indicato iterms that IFRS requires be reported on the statemen format. Lawrence Statement of Profit and Loss Required Disclosure For the Year Ended December 31 $ 130,000 Sales Less: Cost of Goods Sold Gross Proft Operating Expenses: General and Administrative Expenses Selling Expenses (41,000) $ 89,000 s 21,080 17,500 Total Operating Expenses Operating Profit Interest Income Interest Expense Other Revenues and Expenses Profit Before Tax Income Tax Expense Net Profit 50,420 1,400 (2,700) X 1,510 S 50,630 (20.252)x S 30.378 x Prepare a statement of additional disclosures that meets IFRS requirements. (If a box is not used in the table leave the box empty, do not select a label or enter a Choose from any list or enter any number in the input fields and then click Check Answer. Clear All that would meet IFRS requirements, Indicate items that IFRS requires format. Operating Profit Interest Income Interest Expense Other Revenues and Expenses Profit Before Tax Income Tax Expense Net Profit Prepare a statement of additional disclosures that meets IFRS requirements. $ 50,420 1,400 (2,700)X 1,510 $ 50,630 0,252 $30.378 (f a box is not used in the table leave the box empty do Statement of Additional Disclosures For the Year Ended December 31 Choose from any list or enter any number in the input fields and then cick Check