The 31 December 20X2 year-end trial balance for Dynamics Ltd, a private company, showed the following account balances 36 Retained earnings, 31 December 20X1 Sales revenue Dividend income from Investments Cost of sales Impairment on discontinued plant assets, hold for sale (before tax) General, selling and administrative expenses 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 20% Loss due to bankruptcy of major client Dr./(C) $(7,600,000) (8,600,000) (62,000) 4,600,000 720,000 1,510,000 97.000 330,000 620,000 145,000 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 dollac DYNAMICS LTD Income Statement For the year ended on 31st December, 20x2 (in thousands of Canadian dollars) Sales revenue ca Next > D