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Can you create an income statement/Statement of Comprehensive Income using the following information? Use the International Financial Reporting Standards. Income tax Expense $ 600,000 Decrease

Can you create an income statement/Statement of Comprehensive Income using the following information? Use the International Financial Reporting Standards.

Income tax Expense

$

600,000

Decrease in porperty valulation

35,000

Current Assets

6,500,000

Cost of Sales

7,500,000

Distribuiton Costs

900,000

Common Shares Issued

895,000

Finance Costs

90,000

Stock Option Compenstation

40,000

Profit before Taxes

1,750,000

Retained Earnings(endof year)

5,000,000

Dividends Paid

150,000

Other Income

40,000

Gross Profit

3,500,000

Share Captial (end of year)

3,395,000

Contributed surplus (beginnning of year)

60,000

Non-Current Liablilities

5,000,000

Change in Currenc yTranslation(income)

40,000

Retained Earnings(beginning of year)

4,000,000

Administrative Expenses

800,000

Total Liabilities

8,000,000

Total Assets

16,500,000

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