Shown below is an income statement for 2020 that was prepared by a poorly trained bookkeeper of Jordan Corporation.

Jordan Corporation

INCOME STATEMENT

December 31, 2020

Sales revenue $895,000

Interest revenue 19,500

Cost of merchandise sold (408,500)

Selling expenses (145,000)

Administrative expense (215,000)

Interest expense (13,000)

Income before special item 133,000

Special item

Loss on disposal of a component of the business (40,000)

Net income tax liability (27,900)

Net income $65,100

Required:

Prepare an income statement for 2020 for Jordan Corporation that is presented in accordance with IFRS (including format and terminology).Jordan Corporation has 50,000 ordinary shares outstanding and has a 30% income tax rate on all tax related items. Round all earnings per share figures to the nearest cent.