The before-tax income for Hawks Corp.for 2019 was $112,500; for 2020, it was $78,600. However, the accountant noted that the following errors had been made: 1. 2. Sales for 2019 included $38,300 that had been received in cash during 2019, but for which the related products were delivered in 2020. Title did not pass to the purchaser until 2020. Ending inventory on December 31, 2019, was understated by $8,740. The December 31, 2020 ending inventory has not yet been adjusted to the Inventory account. Assume that Hawks has a periodic inventory system and that no adjustment has been made to the opening balance of the Inventory account. The bookkeeper, in recording interest expense for both 2019 and 2020 on bonds payable, made the following entry each year: Interest Expense 15,000 Cash 15,000 4. The bonds have a face value of $250,000 and pay a stated interest rate of 6%. They were issued at a discount of $15,000 on January 1, 2019, to yield an effective interest rate of 7%. (Use the effective interest method.) Ordinary repairs to equipment had been charged in error to the Equipment account during 2019 and 2020. In total, repairs in the amount of $8,700 in 2019 and $9,300 in 2020 were charged in this way. The company uses the declining balance method and applies a rate of 10% in determining its depreciation charges. Assume that Hawks Corp. applies IFRS. (a) Prepare a schedule showing the calculation of corrected income before tax for 2019 and 2020. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses eg (45). Round answers to decimal places, eg. 5,125.) 2019 2020 $ Income before tax Corrections: Sales erroneously included in 2019 income Understatement of 2019 ending inventory Adjustment to bond interest expense Repairs erroneously charged to the Equipment account Depreciation recorded on improperly capitalized repairs Corrected income before tax $ $