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E 32-5 - Preparation of statement of profit or loss The following data were taken from the records of Bernadette Company for the year ended Dec. 31, 2021: P5,590,000 55,000 Sales Sales returns Inventories, Jan. 1: Raw materials Work in process Finished goods Inventories, Dec. 31: Raw materials Work in process Finished goods 131,000 238,350 442,000 145,500 175,720 412,000 1,050,300 2,051,500 17,150 12,550 8,250 200,000 445,000 155,000 44,000 44,000 77,000 25,500 Direct labor Purchases Purchase returns Purchase discounts Freight in Freight out Sales salaries Office salaries Depreciation - factory building Depreciation - office equipment Depreciation - store equipment Depreciation - machinery and equipment Amortization - patents Bad debts expense Factory supplies expense Indirect labor Interest income Factory light and power Property taxes and insurance - factory building Royalties on production Supervision expense Tools expense Miscellaneous factory expense Income tax expense Dividends paid 33,000 20,000 75,550 35,300 116,240 65,000 13,200 13,200 65,000 10,500 50,150 336,408 70,000 Required: Prepare a statement of profit or loss in accordance with PAS 1