Question 4 (17 marks) During 20X1. Blue Corporation sold products for $3,000,000 with the sales returns and allowances of $80,000. The company incurred selling expenses for $150,000 and administrative expenses for $400.000. During the year, the company purchased 20,000 common shares of Francis Corporation at $11 per share and recorded the FV-NI investments and purchased 15,000 shares of Davis Corporation at $10 per share and recorded the FV-OCI investments. On December 31, 20X1, the share prices of Francis Corporation and Davis Corporation were $7 per share and $12 per share, respectively. The company recognized interest income for $78,000. The beginning-of-year balance of inventory was $760,000 and the end-of-year balance of inventory was $890,000. During the year, the company purchased inventory for $2,000,000. On September 1, 20X1, the company discontinued operation of a division that had an income of $200,000 for its operation in 20X1. The discontinued division had the carrying value of net assets for $250,000. The company received the proceeds of $150,000 from the disposal of the division. The income tax rate was 30%. Required: Prepare a multiple-step statement of comprehensive income for the year ended December 31, 20X1, showing expenses by function