question. Notes: Unlimited common shares are authorized and 2,860 have been issued and are currently outstanding. The notes payable is payable over 5 years and $4,800 will be paid by May 31, 2021. Do not enter dollar signs or commas in the input boxes. Round all answers to the nearest whole number. Do not use the negative sign for any values. 2020. \begin{tabular}{|l|l|l|l|l|} \hline \multicolumn{5}{|c|}{ Sandals Inc. } \\ \hline \multicolumn{1}{|c|}{ Statement of Changed in Equity } \\ \hline & Common Shares & Retained Earnings & Reserves & Total Equity \\ \hline Opening Balance & 9980 & & & \\ \hline Profit for the Year/Net Income & & & & \\ \hline Other Comprehensive Income & & & & \\ \hline Foreign Currency Translation Adjustments & & & & \\ \hline Total Comprehensive Income & & & & \\ \hline Transactions with Owners & & & & \\ \hline Dividends on Common Shares & & & & \\ \hline Total Transactions with Owners & & & & \\ \hline Closing Balance & 9980 & & & \\ \hline \end{tabular} a) Prepare a statement of comprehensive income by function for the year ended May 31, 2020. \begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{ Sandals Inc. } \\ \hline \multicolumn{2}{|c|}{ Statement of Comprehensive Income } \\ \hline Sales Revenue (net) & \\ \hline Cost of Goods Sold & 21720 \\ \hline Gross Profit & \\ \hline Selling Expenses & \\ \hline Administrative Expenses & \\ \hline Operating Profit & \\ \hline Finance Costs & \\ \hline Profit before Income Tax & \\ \hline Income Tax Expense & \\ \hline Profit for the Year from Continuing Operations & \\ \hline Profit for the Year from Discontinued Operations & \\ \hline Profit for the Year & \\ \hline Other Comprehensive Income, Net of Tax & \\ \hline Gain on Foreign Currency Translation Adjustments (net of tax) & \\ \hline Total Comprehensive Income & \\ \hline \end{tabular} c) Prepare a statement of financial position as at May 31, 2020. \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|l|}{ Sandals Inc. } \\ \hline \multicolumn{3}{|l|}{ Statement of Financial Position } \\ \hline \multicolumn{3}{|l|}{ As at May 31, 2020} \\ \hline \multicolumn{3}{|l|}{ Assets } \\ \hline \multicolumn{3}{|l|}{ Long-Term Assets } \\ \hline \multicolumn{3}{|l|}{ Property, Plant and Equipment (net) } \\ \hline \multicolumn{3}{|l|}{ Total Long-Term Assets } \\ \hline \multicolumn{3}{|l|}{ Current Assets } \\ \hline Prepaid Insurance & 1200 & \\ \hline Merchandise Inventory & 19200 & \\ \hline Accounts Receivable & 13800 & \\ \hline Cash & 20400 & \\ \hline Total Current Assets & & 54600 \\ \hline Total Assets & & \\ \hline Equity Attributable to Owners & & \\ \hline \begin{tabular}{|l|l|l|} Common Shares, unlimited authorized, 2860 issued \\ \end{tabular} & & \\ \hline \multicolumn{3}{|l|}{ Retained Earnings } \\ \hline \multicolumn{3}{|l|}{ Reserves } \\ \hline \multicolumn{3}{|l|}{ Total Equity Attributable to Owners } \\ \hline \multicolumn{3}{|l|}{ Liabilities } \\ \hline \multicolumn{3}{|l|}{ Long-Term Liabilities } \\ \hline Notes Payable, Long-Term Portion & 19200 & \\ \hline Total Long-Term Liabilities & & 19200 \\ \hline \multicolumn{3}{|l|}{ Current Liabilities } \\ \hline Accounts Payable & 8800 & \\ \hline Unearned Revenue & 1500 & \\ \hline Notes Payable, Current Portion & 4800 & \\ \hline Total Current Liabilities & & 15100 \\ \hline Total Liabilities & & 34300 \\ \hline Total Equity and Liabilities & & \\ \hline \end{tabular}