Question 3 The following information was obtained from the financial records of Narrowbeach Ltd for the year ended 30 June 2021. Prepare an income statement for the year ended 30 June 2021. Note: An Earnings Before Interest and Tax (EBIT) sub-total must be shown as a separate line item on the income statement. $'000 180 1,200 49 101 Retained Earnings 1 July 2020 Sales revenue from continuing operations for the year Finance costs Estimated income tax expense for the year ended 30 June 2021 Interim dividends paid (ordinary shares) Provision for final dividend on ordinary shares Transfer retained earnings to general reserve Goodwill impairment Research and development expenses Share capital (1 million $1 shares) General reserve (1 July 2020) Expenses from ordinary activities (excluding finance costs) 40 62 12 12 8 1,000 80 500 (Total: 9 marks)