Question
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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Globalization Gating And Risk Finance
Authors: Unurjargal Nyambuu, Charles S. Tapiero
1st Edition
1119252652, 978-1119252658
