the companys records as a basis for an income statement for the year ended December 31, 2010.

Rent revenue	$49,000
Interest expense	28,000
Unrealized gain on non-trading equity securities, net of tax	30,000
Selling expenses	145,000
Income tax	32,000
Administrative expenses	187,000
Cost of goods sold	520,000
Net sales	988,000
Cash dividends declared	16,000
Loss on sale of plant assets	25,000

There were 20,000 ordinary shares outstanding during the year.

a. Prepare a comprehensive income statement using the combined statement approach and analyze the result!

b. Prepare a comprehensive income statement using the two statement approach and analyze the result!

c. Which format do you prefer? Please give your interpretation!