KingbirdInc. follows IFRS and has adopted the policy of classifying interest paid as operating activities and dividends paid as financing activities. Comparative SFP accounts ofKingbirdInc., and its statement of income for the year ending December 31, 2020, follow:

Cash Cash equivalents (Note 1] Accounts receivable Prepaid insurance Inventory Supplies Long-term investment, at equity(Note 7] Land {Note 6) Buildings (Note 3] Accumulated depreciationbuildings Equipment (Note 4) Accumulated depreciationequipment Patent Accumulated amortization Bank overdrafts (tem pora ry] Accounts payable Income tax payable Accrued liabilities Dividends payable Long-term notes payable Bonds payable Preferred shares {Note 2) Common shares Retained earnings Income Statement Revenues Sales revenue Investment income Expenses and Losses Cost of goods sold Sales commissions expense Operating expenses (Note 5] Salaries and wages expense Interest expense Loss on disposal of equipment (Note 4) Income tax expense Net Income December 31 96,000 $190,000 2020 2019 Change $43,000 $53,000 $[10,000 40,000 47,400 (7,400 350,000 232,000 63,000 17,200 33,100 (15,900 416,000 374,700 41,300 13,000 17,000 (4,000 415,000 402,200 12,300 633,000 510,000 123,000 1,310,000 1,230,000 30,000 (400,000 ) (360,000 (40,000 636,000 643,700 (7,700 {160,000 ) (135,000 (25,000 100,000 100,000 -0- (40,000 ) (35,000 (5,000 $3,373,200 $3,213,100 $160,100 $0 $39,400 $(39,400 165,000 156,000 9,000 26,000 35,000 (9,000 53,000 44,000 14,000 13,000 49,000 (31,000 420,000 460,000 (40,000 999,000 995,000 4,000 436,000 330,000 106,000 746,000 671,000 75,000 455,200 333,700 121,500 $3,373,200 $3,213,100 $160,100 $933,000 90,000 $1,073,000 311,000 107,000 166,000 104,000 93,000 11,000 333,000 I J