Good Evening, I have a Case Study I need assistance with. Solve the case, using the FASB Codification to support your position. Be sure to provide the location in the Codification where you obtained your authoritative support for your position. I have attached the case study for your review. Thank you in advance for your assistance.

Case 11-5 Venus Cellular Venus Cellular Limited (\"Venus\") is the leading, worldwide provider of a wide variety of telecommunications equipment and services. Its telecommunications equipment and services enable its customers to send or receive virtually any type of voice or data transmission. Its customers include fixed line and wireless telecommunication operators, Internet service providers, governments, and businesses. Venus prepares its financial statements in accordance with International Financial Reporting Standards (IFRSs). Consolidated Statement of Comprehensive Income 20X1 20X0 (US$ millions except per share data) Revenues Cost of sales Gross profit 16,419 (10,629) 5,790 15,305 (9,539) 5,766 Administrative and selling expenses Research and development costs Operating income current (2,500) (1,804) 1,486 (2,430) (1,863) 1,473 Share-based payments (stock option plans) Restructuring costs Impairment of capitalized development Gain on one time contractual settlement Operating income (86) (138) 161 1,423 (75) (405) (130) 863 Interest expense Interest income Finance costs Income from sale of assets (273) 153 (120) 1,858 (283) 131 (152) 244 Income before tax and associates Income tax expense Share in net income (losses) of associates Profit or loss Dividends Retained profit or loss 3,161 (114) (18) 3,029 (265) 2,764 955 (45) (76) 834 (247) 587 Other comprehensive income: Cash flow hedges Available for sale financial assets Share of other comprehensive income of associates Total comprehensive income for the year 17 (50) 13 2,744 20 25 5 637 Copyright 2010 Deloitte Development LLC All Rights Reserved. Page 2 Case 11-5c: Venus Cellular Profit or loss for the year attributable to: Owners of the parent Noncontrolling interests 1,951 1,078 Basic earnings per share (in US$) Diluted earnings per share (in US$) 3.76 3.76 537 297 1.49 1.49 Required: Question 1 Identify whether the analysis of expenses in profit or loss is presented by nature or function. Question 2 Identify the alternative performance (operating) measures presented in the statement of comprehensive income and document your conclusions with regard to the appropriateness of the various performance measures. Question 3 Discuss any additional issues you have identified or other observations. Copyright 2010 Deloitte Development LLC All Rights Reserved