Below is a list of accounts and balances for Sandals Inc. for the year ending September 30, 2020. All balances are in thousands of dollars. Sandals Inc. follows IFRS. Assume a tax rate of 25%. Exclude the presentation of earnings per share for this question.

Account Title	Balance
Accounts Payable	$9,500
Accounts Receivable	$13,700
Accumulated Depreciation	$1,500
Advertising Expense	$1,400
Cash	$19,800
Cash Dividends	$4,100
Common Shares	$11,200
Cost of Goods Sold	$19,200
Depreciation Expense-Office Equipment	$60
Depreciation Expense-Store Equipment	$800
Gain on Foreign Currency Translation Adjustments	$120
Gain on Sale of Discontinued Operations	$2,500
Income from Operating Discontinued Operations	$7,500
Interest Expense	$1,100
Merchandise Inventory	$17,900
Miscellaneous Administrative Expenses	$570
Notes Payable	$22,000
Office Salaries Expense	$1,400
Prepaid Insurance	$1,500
Property, Plant and Equipment	$26,800
Rent Expense-Office	$430
Rent Expense-Retail	$1,380
Retained Earnings (beginning balance)	$17,778
Sales Salaries Expense	$2,900
Sales Discounts	$1,100
Sales Returns and Allowances	$550
Sales Revenue	$48,000
Unearned Revenue	$1,400

Notes: Unlimited common shares are authorized and 2,380 have been issued and are currently outstanding. The notes payable is payable over 5 years and $4,400 will be paid by September 30, 2021. Do not enter dollar signs or commas in the input boxes. Round all answers to the nearest whole number. Do not use the negative sign for any values. a) Prepare a statement of comprehensive income by function for the year ended September 30, 2020.

Sandals Inc.
Statement of Comprehensive Income
For the Year Ended September 30, 2020
Sales Revenue (net)	Answer
Cost of Goods Sold	Answer
Gross Profit	Answer
Selling Expenses	Answer
Administrative Expenses	Answer
Operating Profit	Answer
Finance Costs	Answer
Profit before Income Tax	Answer
Income Tax Expense	Answer
Profit for the Year from Continuing Operations	Answer
Profit for the Year from Discontinued Operations	Answer
Profit for the Year	Answer
Other Comprehensive Income, Net of Tax
Gain on Foreign Currency Translation Adjustments (net of tax)	Answer
Total Comprehensive Income	Answer

b) Prepare a statement of changed in equity for the year ended September 30, 2020. There was no opening balance in the accumulated other income account and FlipFlop Inc. did not issue any new common shares in the fiscal year ended September 30, 2020.

Sandals Inc.
Statement of Changed in Equity
For the Year Ended September 30, 2020
	Common Shares	Retained Earnings	Reserves	Total Equity
Opening Balance	Answer	Answer		Answer
Profit for the Year/Net Income		Answer		Answer
Other Comprehensive Income
Foreign Currency Translation Adjustments			Answer	Answer
Total Comprehensive Income		Answer	Answer	Answer
Transactions with Owners
Dividends on Common Shares		Answer		Answer
Total Transactions with Owners		Answer		Answer
Closing Balance	Answer	Answer	Answer	Answer

c) Prepare a statement of financial position as at September 30, 2020.

Sandals Inc.
Statement of Financial Position
As at September 30, 2020
Assets
Long-Term Assets
Property, Plant and Equipment (net)		Answer
Total Long-Term Assets
Current Assets
Prepaid Insurance	Answer
Merchandise Inventory	Answer
Accounts Receivable	Answer
Cash	Answer
Total Current Assets		Answer
Total Assets		Answer
Equity Attributable to Owners
Common Shares, unlimited authorized, Answer issued	Answer
Retained Earnings	Answer
Reserves	Answer
Total Equity Attributable to Owners		Answer
Liabilities
Long-Term Liabilities
Notes Payable, Long-Term Portion	Answer
Total Long-Term Liabilities		Answer
Current Liabilities
Accounts Payable	Answer
Unearned Revenue	Answer
Notes Payable, Current Portion	Answer
Total Current Liabilities		Answer
Total Liabilities		Answer
Total Equity and Liabilities