Question 3 Presented below is information related to Marigold Ltd. for the year 2022 (amounts in thousands). Net sales HK$1,032,000 Write-off of inventory due to obsolescence HK$70,000 Cost of goods sold 672,000 Depreciation expense omitted by accident in 2021 35,000 Selling expenses 55,000 Interest expense 43,000 Administrative expenses 41,400 Cash dividends declared 39,000 Dividend revenue 19,000 Retained earnings at December 31, 2021 844,000 Interest revenue 6,200 Effective tax rate of 34% on all items Prepare an income statement for 2022. Assume that 51,000 ordinary shares are outstanding. (Round earnings per share to 2 decimal places, eg 1.49.) Net Sales Cost of Goods Sold Gross Profit/(Loss) Selling Expenses Administrative Expenses Other Income and Expenses Dividend Revenue Interest Revenue MARIGOLD LTD. Income Statement For the Year Ended December 31, 2022 HK$ 55000 41400 19000 Write-off of Inventory Due to Obsolescence 70000 Income Before Income Tax Income Tax Net Income/(Loss) Net Income:/(Loss) Earnings Per Share 6200 HK$ 1032001 672000 36000 96400 95200 168400 HK$ 51000 HK$