Help System Announcements CALCULATOR PRINTER VERSION BACK NE Question 14 Information for 2020 follows for Ayayal Corp.: Retained earnings, January 1, 2020 $1,940,000 Sales revenue 36,900,000 Cost of goods sold 28,812,000 Interest income 158,000 Selling and administrative expenses 4,790,000 Unrealized gain on FV-Oct equity Investments (gains/losses not recycled) 277,000 Loss on impairment of goodwill 538,000 Income tax on continuing operations for 2020 (assume this is correct) 632,600 Assessment for additional income tax for 2018 (normal, recurring, and not caused by an error) 429,000 Gain on disposal of FV-Nt Investments 102,000 Loss from flood damage 395,000 Loss on disposal of discontinued division (net of tax of $65,000) 260,000 Loss from operation of discontinued division (net of tax of $42,750) 171,000 Dividends declared on common shares 214,500 Dividends declared on preferred shares 59,400 Ayayal decided to discontinue its entire wholesale division (a major line of business) and to keep its manufacturing division. On September 15, it sold the wholesale division to Dylane Corp. During 2020, there were 500,000 common shares outstanding all yor. Ayayai's tax rate is 20% on operating income and all gains and losses (use this rate where the tax provisions are not given). Ayayai prepares financial statements in accordance with IFRS. Prepare a multiple-step statement of financial performance for the year ended December 31, 2020, showing expenses by function. Include calculation of EPS. (Hound EPS answers to 2 decimal places, e.g. 52.75.) Ayayal Corp Statement of Financial Performance Ayayal Corp. Statement of Financial Performance v Kieso, Intermediate Accounting, 12 CE Volume 1 Help System Announcements CALCULAT Items that will not be reclassified subsequently to net income or loss: 23,997 W X