Case 1: The Income Statement and Retained Earnings statement Al-Khaleeg Cor Trail Balance For the period of 2015 Sales Revenues 540,000 780,000 Cost of goods sold Sales discounts 45,000 Current assets 560,000 Interest revenues 24,000 Gains on the sale of assets 18,000 Sales allowance and returns 12.000 Non-current assets 4,790,000 5,000 Loss on assets i irments Dividends revenues 16,000 112,000 Administrative ex Interest expense 34,000 Current liabilities 0,000 Loss on discontinued operations 80,000 Gains on disposal of discontinued operations 40,000 Beginning balance of retained earnings 89,000 15,000 Ordinary Dividends 0,000 Preference Dividends Non-current liabilities Unrealized gains on trading invest 420,000 8,000 Share-capital ordi 3,392,000 Selling expenses 144.000 Additional information: Effective tax rate is 30% The number of shares outstanding 250,000 Non-controlling interest is 20% - Instructions Prepare the income statement according to IFRS requirements Show the distribution of net income between controllingand non-controlling interests Compute the earning per share for Income from continuing operations, discontinued operations and for the net income. Prepare the retained earnings statement