The 31 December 20X2 year-end trial balance for Dynamics Ltd., a private company, showed the following account balances: Retained earnings, 31 December 20X1 Sales revenue Dividend Income from investments Cost of sales Impairment on discontinued plant assets, held-for-sale (before tax) General, selling, and administrative expenses Dr./(Ce) (8,000,000) (9,000,000) (66,000) 4,000,000 760,000 1,830,000 101,000 Interest expense Reduction in prior years' earnings due to change in accounting policy, cumulative to 31 December 20x1 (before tax) Dividends declared, to be paid 15 January 20x3 Loss due to bankruptcy of major client 370,000 660,000 165,000 The company pays income tax at a rate of 20% Required: Prepare an income statement for the year ended 31 December 20X2. (Enter answers in thousands, not in whole Canadian dollar) DYNAMICS LTD. Innome Statement For the year andad on 31ar Docember, 20x2 Un thousands of Canadian dollar) Total revenu Required: Prepare an income statement for the year ended 31 December 20X2. (Enter answers in thousands, not in whole Canadian dollar.) DYNAMICS LTD. Income Statement For the year ended on Mst December, 20X2 (in thousands of Canadian dollare) Total revenue Total expense from continuing operations Earnings from continuing operations, before income tax Earnings before discontinued operation Discontinued operation Net earnings