Statement of Net Income, IFRS. Using the informationprovided in BE5-7, prepare a statement of net income and additional disclosures that would meet IFRS requirements. Indicate items that IFS requires be reported on the statement of net income. Use the condensed format.

Carr Corporation

Trial Balance (Selected Accounts)

For the Year Ended December 31

Account Debit Credit

Dividends $ 1,345

Sales $123,750

Dividend Income 560

Interest Income 1,000

Gain on Disposal of Plant Assets 986

Unrealized Gain on Trading Investments 2,000

Cost of Goods Sold 45,678

Office Supplies Expense 4,500

Sales Salaries Expense 3,570

Selling Expenses 12,000

Accounting and Legal Fees--General Expense 800

Advertising Expense 4,000

Office Salaries Expense 6,780

Depreciation Expense--General Expense 9,000

Interest Expense 2,100

Loss on Asset Impairment 1,840

For the Year Ended December 31. e). 1 the 20010 Gross proflt. Operating Expenses: Total operating evpenses Operating income interest expense Interest income Other revenues and expenses Profis Before Tox income tax expense at 40s Net profit Additional disclosorent Other Revenues/Gains and Expenses/Losses: Selliv foperses: Tots: Selling Eaperises Geriera and Adminstrative Eageniet Total Cenerke and Aoministramve Eopense