Cullumber Limited reported the following selected information for the year ended March 31, 2021:

Advertising expense		$7,000		Interest expense		$5,500
Cash dividendscommon		4,000		Loss on discontinued operations		12,000
Depreciation expense		3,000		Rent revenue		35,000
Fees earned		62,000		Retained earnings, April 1, 2020		21,000
Gain on disposal of equipment		1,700		Telephone expense		9,000
Holding loss on equity investments		2,000
Income tax payable		7,400

The companys income tax rate is 30%. The company reports gains and losses on its equity investments as other comprehensive income.

Prepare an income statement and a separate statement of comprehensive income for Cullumber Limited.

CULLUMBER LIMITED Income Statement choose the accounting period Month Ended March 31, 2021Year Ended March 31, 2021March 31, 2021
select an opening name for section one Other RevenuesGross Profit / (Loss)Profit from OperationsProfit from Continuing OperationsRevenuesTotal Operating ExpensesDividendsProfit / (Loss)Total RevenuesDiscontinued OperationsProfit before Income TaxesOther ExpensesBeginning Balance, March 31Ending Balance, December 31Operating Expenses
select an income statement item Advertising ExpenseFees EarnedIncome Tax ExpenseInterest ExpenseRent Revenue	$enter a dollar amount
select an income statement item Fees EarnedRent RevenueIncome Tax ExpenseInterest ExpenseAdvertising Expense	enter a dollar amount
select a closing name for section one DividendsProfit before Income TaxesOther RevenuesTotal RevenuesGross Profit / (Loss)Profit / (Loss)Profit from Continuing OperationsTotal Operating ExpensesDiscontinued OperationsBeginning Balance, March 31Operating ExpensesEnding Balance, December 31Profit from OperationsRevenuesOther Expenses		$enter a total amount for section one
select an opening name for section two Profit from Continuing OperationsDividendsProfit before Income TaxesRevenuesTotal Operating ExpensesDiscontinued OperationsProfit / (Loss)Other RevenuesBeginning Balance, March 31Profit from OperationsOther ExpensesEnding Balance, December 31Total RevenuesOperating ExpensesGross Profit / (Loss)
select an income statement item Rent RevenueAdvertising ExpenseTelephone ExpenseInterest ExpenseDepreciation Expense	enter a dollar amount
select an income statement item Rent RevenueAdvertising ExpenseDepreciation ExpenseInterest ExpenseTelephone Expense	enter a dollar amount
select an income statement item Rent RevenueDepreciation ExpenseAdvertising ExpenseInterest ExpenseTelephone Expense	enter a dollar amount
select a closing name for section two Other ExpensesRevenuesBeginning Balance, March 31Operating ExpensesOther RevenuesProfit / (Loss)Ending Balance, December 31Profit before Income TaxesTotal RevenuesGross Profit / (Loss)Total Operating ExpensesProfit from Continuing OperationsProfit from OperationsDiscontinued OperationsDividends		enter a total amount for section two
select a summarizing line for the first part Ending Balance, December 31Beginning Balance, March 31Discontinued OperationsOther RevenuesOperating ExpensesRevenuesTotal Operating ExpensesGross Profit / (Loss)Other ExpensesProfit from OperationsProfit / (Loss)DividendsProfit from Continuing OperationsTotal RevenuesProfit before Income Taxes		enter a total amount for the first part
select an opening name for section three Discontinued OperationsTotal RevenuesOther ExpensesBeginning Balance, March 31Profit / (Loss)RevenuesProfit from Continuing OperationsEnding Balance, December 31Operating ExpensesProfit from OperationsOther RevenuesProfit before Income TaxesTotal Operating ExpensesDividendsGross Profit / (Loss)
select an income statement item Income Tax ExpenseLoss on Discontinued OperationsTelephone ExpenseFees EarnedGain on Disposal of Equipment		enter a dollar amount
select an opening name for section four