Required: 1. Using the information in the appendix, complete the income statement and statement of changes in equity for the year ended December 31, 2020, and the statement of financial position at December 31, 2020. Present the income statement using the function of expense format. Use three categories: cost of goods sold, selling, and administration expenses. Indicate how the selling and administration expenses were determined. Use your judgement. Check figure: Net income is $58,420