Star Finder Inc. has provided the following information for the year ended December 31, 2021:

Sales revenue

$1,300,000

Loss on inventory due to decline in net realizable value

$80,000

Unrealized gain on FV-OCI equity investments

42,000

Loss on disposal of equipment

35,000

Interest income

7,000

Depreciation expense related to buildings omittedby mistake in 2020

55,000

Cost of goods sold

780,000

Retained earnings at December 31, 2020

980,000

Selling expense

65,000

Loss from expropriation of land

60,000

Administrative expense

48,000

Dividendsdeclared

45,000

Dividend revenue

20,000

The effective tax rate is 25% on all items. Star Finder Inc. prepares financial statements in accordance with IFRS. The FV-OCI equity investments trade on the stock exchange. Gains/losses on FV-OCI investments are not recycled through net income.

Required:

1. multi-step statement of financial performance for 2021, showing expenses by function. Ignore calculation of EPS.

2.Prepare the retained earnings section of the statement of changes in equity for 2021.

3.Prepare the journal entry to record the depreciation expense omitted by mistake in 2020.