KVS Ltd has the following balances in its general ledger on 31 December 20X8 ( in thousands of Canadian dollars) Debit Credit Retained earnings,31 December $40,000 Sales revenue 18,000 Interest expense 780 Cost of sales 8,000 Accumulated other comprehensive income,31 December 20X7 1,350 Dividends paid 2,000 Foreign currency gains and losses on 20X8 transactions 3,000 Income tax expense 1,120 Selling and administrative expense 3,400 Amortization on furniture and fixture for 20X8 1,050 Write-off obsolete inventory 530 Impairment of tangible capital assets 970 Additional contributed capital 18,000 Loss on redemption of long term debt 670 Unrealized foreign currency translation loss on the self-sustaining US. subsidiary for 20X8. net of $124 income tax 496 Prepare in good form,a statement of income and comprehensive income.Use a continuous format