Sales $1,195,000 Loss on disposition of the retail division (net of tax) 30,000 Selling expenses 161,000 Cash 42,400 Accounts receivable 85,000 Common stock 175,000 Accumulated depreciation Rent revenue Gain on sale of equipment Cost of goods sold Unearned revenue Write-off of a patent Accrued interest payable Property Sales returns and allowances Patent Retained earnings, December 1, 2018 Bond interest expense Administrative expenses Dividends declared common shares 100,000 18,500 20,400 733,000 32,000 23,700 10,000 375,000 24,500 74,000 145,000 15,000 114,000 27,000 Sales discounts Dividends declared preferred shares Loss on operations of the retail division (net of tax) 20,500 9,000 25,000 Depreciation understatement due to an error in 2015 Plant and equipment 8,700 500,000 Accounts payable 19,000 Additional information: . All of the above accounts had their normal debit or credit balances. This is a partial trial balance and therefore total debits and credits do not equal to zero (0). The company's income tax rate is 20%. Assume that all income items are fully taxable or deductible for income tax purposes. Required a) Prepare a multiple-step income statement using the IFRS format for Bryson's Corporation for the year ended November 30, 2018. (21 marks) h) Prepare a retained earnings statement for the year ended November 30 2018 (4 marks) Bryson's Corporation capital structure consists of 50,000 shares of common stock. At November 30, 2019 an analysis of the accounts and discussions with company officials revealed the following information: Sales Loss on disposition of the retail division (net of tax) Selling expenses Cash Accounts receivable Common stock Accumulated depreciation Rent revenue Gain on sale of equipment Cost of goods sold Unearned revenue Write-off of a patent Accrued interest payable $1,195,000 30,000 161,000 42,400 85,000 175,000 100,000 18,500 20,400 733,000 32,000 23,700 10,000 375,000 24,500 74,000 145,000 15,000 114,000 Dividends declared common shares 27,000 Sales discounts 20,500 Dividends declared preferred shares 9,000 Loss on operations of the retail division (net of tax) 25,000 Depreciation understatement due to an error in 2015 8,700 Plant and equipment 500,000 Accounts payable 19,000 Property Sales returns and allowances Patent Retained earnings, December 1, 2018 Bond interest expense Administrative expenses Additional information: All of the above accounts had their normal debit or credit balances. . This is a partial trial balance and therefore total debits and credits do not equal to zero (0). The company's income tax rate is 20%. Assume that all income items are fully taxable or deductible for income tax purposes. Required a) Prepare a multiple-step income statement using the IFRS format for Bryson's Corporation for the year ended November 30, 2018. (21 marks) b) Prepare a retained earnings statement for the year ended November 30, 2018. (4 marks)