Joe Schreiner, controller for Pina Colada 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, PINA COLADA COMPANY INC. Income Statement For the Year Ended December 31, 2020 $ 363,000 199,000 164,000 Sales revenues Cost of goods sold Gross profit Selling expenses Administrative expenses Income before income tax Other revenues and gains Unrealized gain on FV-OCl equity investments Dividend revenue 39,870 30.000 69,870 94,130 37.400 41,400 172,930 51,879 $ 121.051 Income tax expense Net income $ 217,000 PINA COLADA COMPANY INC. Excerpt from Statement of Changes in Equity For the Year Ended December 31, 2020 Retained earnings, January 1, 2020 Add: Net income for 2020 $ 121,051 Gain on disposal of long-term investments 32,300 $ 153,351 Deduct: Loss on expropriation 12,100 Correction of mathematical error (net of tax) 17,068 (29,168 ) Retained earnings, December 31, 2020 124.183 $ 341.183 Assume that Pina Colada Company follows IFRS. Assume that investments are accounted for as FV-OCI 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 0 decimal places, eg. 5,275. Round tax rate to 4 decimal places, eg. 52.7525%.) PINA COLADA COMPANY INC. Statement of Comprehensive Income $ $ Prepare the retained earnings and accumulated other comprehensive income portion of the statement of changes in equity. Assume an opening balance of $134,000 in accumulated other comprehensive income. (Round answers to O decimal places, eg. 5,275.) PINA COLADA COMPANY INC. Statement of Changes in Equity Retained Earnings Accumulated Other Comprehensive Income $ $ Balance January 1, as reported Correction of prior year error (net of tax) Balance January 1 restated Net income /(Loss) Unrealized gain on FV-OCI investment" Balance December 31 $ $