Current Attempt in Progress Joe Schreiner, controller for Culver Company Inc., recently prepared the company's income statement and statement of changes in equity for 2020. Schreiner believes that the statements are a fair presentation of the company's financial progress during the current period, but he also admits that he has not examined any recent professional pronouncements on accounting. $ 355,000 191,000 164,000 CULVER COMPANY INC. Income Statement For the Year Ended December 31, 2020 Sales revenues Cost of goods sold Gross profit Selling expenses 44,980 Administrative expenses 30,000 Income before income tax Other revenues and gains Unrealized gain on FV-OCl equity investments Dividend revenue 74,980 89,020 38,700 42,700 170,420 51,126 $ 119,294 Income tax expense Net income CULVER COMPANY INC. Excerpt from Statement of Changes in Equity For the Year Ended December 31, 2020 Retained earnings, January 1, 2020 $ 212,000 Add: $ 119,294 31,600 $ 150,894 Net income for 2020 Gain on disposal of long-term investments Deduct: Loss on expropriation Correction of mathematical error (net of tax) Retained earnings, December 31, 2020 12,800 17,005 (29,805) 121,089 $ 333,089 Assume that Culver Company follows IFRS. Assume that investments are accounted for as FV-OCl equity investments with gains/losses not recycled through net income. Prepare a statement of financial performance showing expenses by function. Ignore calculation of EPS. (Round answers to decimal places, eg 5,275. Round tax rate to 4 decimal places, eg. 52.7525%.) CULVER COMPANY INC. Statement of Comprehensive Income $ $