Cardinal Manufacturing, Ltd., an IFRS reporter, provided the following information from its current-year trial balance. (Click the icon to view the trial balance.) Requirement Prepare a statement of net income and additional disclosure that would meet IFRS presentation requirements. Indicate items IFRS requires to be reported on the income statement. The tax rate is 40%. Begin by preparing a statement of net income that meets IFRS presentation requirements, one section at a time. Indicate items that IFRS requires be presented on the statement of net income. (Use a minus sign or parentheses for any other expenses/losses or loss on discontinued operations. Select an "X" in the "Required Disclosure" column if the disclosure is required by IFRS. If an input field is not used, leave the input field empty; do not select a label.) Cardinal Manufacturing, Ltd. Statement of Profit and Loss For the Year Ended December 31 Required Disclosure? Less: