Question given in first photo and answer fill in the 2 photo

Simulation (15 minutes) Mary Lynn Summer is a new corporate accountant with FlyAway Inc., a Canadian discount airline. FlyAway has revenues of approximately $150 million and focuses on the leisure traveller. FlyAway offers flights to select airports within North America. FlyAway has just completed an initial public offering on the Toronto Stock Exchange. Mary Lynn has been asked to investigate additional reporting that will be required now that FlyAway is a public company. She is considering interim reporting as well as the management discussion and analysis (MD&A). Complete the tasks in the Excel Task file. . Mary Lynn has been asked to prepare a memo with information on the interim 6 reporting requirements. 7 8 Instructions: In the second and third paragraphs, there is a sentence that ends in a phrase that is bolded. You must decide how to best complete the sentence: you may leave the bolded comment in place (choose option 1) or replace it with an 10 alternative comment. 11 Draft memo 12 13 To: Controller 14 Re: Interim reporting 15 16 I have reviewed the interim reporting requirements under IFRS. 17 18 With regards to the interim financial statements presented, FlyAway... must include only the statement of financial position and statement of 19 comprehensive income prepared in the condensed format (as above). 20 21 Select your answe 1 22 must include only the statement of financial position and statement of 1 23 comprehensive income prepared in the condensed format (as above). must include a complete set of financial statements in the same format as 2 24 prepared for the year-end statements. must include a complete set of financial statements, but these may be in a 3 25 condensed format 26 The statement of comprehensive income FlyAway presents for the third quarter of 27 2021 must provide information for... 28 the third quarter of 2021 and 2020 only (as above).. 29 30 Select your answer 1 31 32 1 the third quarter of 2021 and 2020 only (as above). 33 2 each of the first, second, and third quarters of 2020 and 2021. 34 3 the third quarter and year to date for 2020 and 2021. 35 4 year to date for 2020 and 2021 only. 36 Simulation (15 minutes) Mary Lynn Summer is a new corporate accountant with FlyAway Inc., a Canadian discount airline. FlyAway has revenues of approximately $150 million and focuses on the leisure traveller. FlyAway offers flights to select airports within North America. FlyAway has just completed an initial public offering on the Toronto Stock Exchange. Mary Lynn has been asked to investigate additional reporting that will be required now that FlyAway is a public company. She is considering interim reporting as well as the management discussion and analysis (MD&A). Complete the tasks in the Excel Task file. . Mary Lynn has been asked to prepare a memo with information on the interim 6 reporting requirements. 7 8 Instructions: In the second and third paragraphs, there is a sentence that ends in a phrase that is bolded. You must decide how to best complete the sentence: you may leave the bolded comment in place (choose option 1) or replace it with an 10 alternative comment. 11 Draft memo 12 13 To: Controller 14 Re: Interim reporting 15 16 I have reviewed the interim reporting requirements under IFRS. 17 18 With regards to the interim financial statements presented, FlyAway... must include only the statement of financial position and statement of 19 comprehensive income prepared in the condensed format (as above). 20 21 Select your answe 1 22 must include only the statement of financial position and statement of 1 23 comprehensive income prepared in the condensed format (as above). must include a complete set of financial statements in the same format as 2 24 prepared for the year-end statements. must include a complete set of financial statements, but these may be in a 3 25 condensed format 26 The statement of comprehensive income FlyAway presents for the third quarter of 27 2021 must provide information for... 28 the third quarter of 2021 and 2020 only (as above).. 29 30 Select your answer 1 31 32 1 the third quarter of 2021 and 2020 only (as above). 33 2 each of the first, second, and third quarters of 2020 and 2021. 34 3 the third quarter and year to date for 2020 and 2021. 35 4 year to date for 2020 and 2021 only. 36