Question &28D305 points) Show below is an income statement for 2019 that was prepared by poorly tried bookkeeper of Howell Corporation Howell Corporation INCOME STATEMENT December 31, 2019 Sales revenue 895,000 Interest revenue 19,500 Cost of Goods sold (408,500) Selling expenses (145,000) Administrative expense Q15,000) Interest expense (13,000 Income before special item 133.000 Special item Loss on disposal of a component of the business (40,000) Net income tax liability 02.7.900) Net income E65100 Instructions Prepare an income statement for 2019 for Howell Corporation that is presented in accordance with IFRS (including format and terminology). Howell Corporation has 50.000 Common Stocks Outstanding and has a 30% income tax rate on all tax related items Answer of Ouestion