Corporation provided the following partial-trial balance for the current year.

Prepare a statement of net income and additional disclosures that would meet IFRS requirements. Indicate items that IFRS requires to be reported on the statement of net income.

Carson is subject to a 40% income tax rate. Use the condensed format.

Carson Corporation

Trial Balance (Selected Accounts)

For the Year Ended December 31

Account

Debit

Credit

Dividends

$1,330

Sales

$190,000

Dividend Income

550

Interest Income

1,200

Gain on Disposal of Plant Assets

1,300

Unrealized Gain on Trading Investments

2,400

Cost of Goods Sold

44,000

Office Supplies Expense

5,000

Sales Salaries Expense

4,300

Selling Expenses

17,000

Accounting and Legal FeesGeneral Expense

760

Advertising Expense

4,200

Office Salaries Expense

6,300

Depreciation ExpenseGeneral Expense

9,200

Interest Expense

2,700

Loss on Asset Impairment

2,300

Begin by preparing a statement of net income that meets IFRS requirements. Indicate items that IFF Carson Corporation Statement of Profit and Loss For the Year Ended December 31 Required Disclosure Less: Net Profit