Sunland Limited reported the following selected information for the year ended March 31, 2017:

Advertising expense

$5,000

Interest expense

$5,800

Cash dividendscommon

4,000

Loss on discontinued operations

23,000

Depreciation expense

2,000

Loss on equity investments

4,000

Fees earned

63,000

Rent revenue

38,000

Gain on disposal of equipment

1,000

Retained earnings, April 1, 2016

16,000

Income tax payable

5,500

Telephone expense

8,000

The company's income tax rate is 31%. The company reports gains and losses on its equity investments as other comprehensive income.

Prepare an income statement and a separate statement of comprehensive income for Sunland Limited.

SUNLAND LIMITED

Income Statement

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