Question 1 (16 points) The following is the pre-tax information of Baldur Corporation, a public corporation, at its fiscal year end December 31, 2019 Sales $4,250,000 Cost of goods sold 2,675,000 General and administration expenses 317,000 Selling expenses 419,000 Depreciation expense 215,000 Interest expense 48,500 Unrealized translation loss on foreign subsidiary 95,175 Loss on disposal of discontinued retail segment 52,000 Earnings from discontinued retail segment 147,000 The income tax rate is 20%. Baldur Corporation has 10,000 common shares issued and outstanding throughout the year Required: 1. Prepare a continuous combined Statement of Income and Comprehensive Income in good form. The statement should use the multi-step format. A template is provided for your answer (15 marks) 2. How does the company classify expenses? (1 mark)