The following account balances were included in the trial balance of Monty Corporation at June 30, 2020: Sales revenue $ 1,835,050 Telephone and Internet expense (office) $3,220 Cost of goods sold 1.071,770 Salaries and wages (office) 8,120 Salaries and wages expense (sales) 56,260 Supplies expense (sales) 4,850 Sales commission expense 97,600 Repairs and maintenance expense (office) 9,430 Advertising expense (sales) 29.230 Depreciation understatement due to error-2018 (net of tax of $3,300) 17,800 Freight out 21.400 Miscellaneous expense (office) 7,600 Entertainment expense (sales) 15.520 Dividend revenue 38.900 9.230 Telephone and Internet expense (sales) Interest expense 20.000 Depreciation of sales equipment 5.780 Income tax expense 133.300 6.800 Repairs and maintenance expense (sales) 9.525 Dividends declared on preferred shares 33.600 50215 Miscellaneous expenses (sales) Dividends declared on common shares Suppres experise (Orice = 3.ODU Depreciation expense on office furniture and equipment 8,050 During 2020. Monty incurred production salary and wage costs of $ 708,600. consumed raw materials and other production supplies of $ 477,670, and had an increase in work-in-process and finished goods inventories of $ 114.500. The Retained Earnings account had a balance of $ 284,000 at June 30. 2020, before closing. There are 180.000 common shares outstanding. Assume Monty has elected to adopt IFRS. (Hint: Production payroll and materials costs reduced by the increase in ending work-in-process and finished goods inventories the cost of goods sold.) Prepare an income statement for the year ended June 30, 2020. Using the multiple-step format and showing expenses by function. (List Selling Expenses before Administrative Expenses. Round per share answer to 2 decimal places, e.g. 52.74.) Monty Corporation Income Statement 5 Prepare the retained earnings portion of the statement of changes in equity for the year ended June 30, 2020. (List items that increase retained earnings first after adjusted balance.) Monty Corporation Excerpt from Statement of Changes in Equity ta v $ Monty Corporation Income Statement $ -/25 $ CA Assume the average market price of the common shares outstanding was $31.70. What was Monty's price-earnings ratio? (Round answer to 1 decimal place, e.g. 52.5.) Price-earnings ratio times The following account balances were included in the trial balance of Monty Corporation at June 30, 2020: Sales revenue $ 1,835,050 Telephone and Internet expense (office) $3,220 Cost of goods sold 1.071,770 Salaries and wages (office) 8,120 Salaries and wages expense (sales) 56,260 Supplies expense (sales) 4,850 Sales commission expense 97,600 Repairs and maintenance expense (office) 9,430 Advertising expense (sales) 29.230 Depreciation understatement due to error-2018 (net of tax of $3,300) 17,800 Freight out 21.400 Miscellaneous expense (office) 7,600 Entertainment expense (sales) 15.520 Dividend revenue 38.900 9.230 Telephone and Internet expense (sales) Interest expense 20.000 Depreciation of sales equipment 5.780 Income tax expense 133.300 6.800 Repairs and maintenance expense (sales) 9.525 Dividends declared on preferred shares 33.600 50215 Miscellaneous expenses (sales) Dividends declared on common shares Suppres experise (Orice = 3.ODU Depreciation expense on office furniture and equipment 8,050 During 2020. Monty incurred production salary and wage costs of $ 708,600. consumed raw materials and other production supplies of $ 477,670, and had an increase in work-in-process and finished goods inventories of $ 114.500. The Retained Earnings account had a balance of $ 284,000 at June 30. 2020, before closing. There are 180.000 common shares outstanding. Assume Monty has elected to adopt IFRS. (Hint: Production payroll and materials costs reduced by the increase in ending work-in-process and finished goods inventories the cost of goods sold.) Prepare an income statement for the year ended June 30, 2020. Using the multiple-step format and showing expenses by function. (List Selling Expenses before Administrative Expenses. Round per share answer to 2 decimal places, e.g. 52.74.) Monty Corporation Income Statement 5 Prepare the retained earnings portion of the statement of changes in equity for the year ended June 30, 2020. (List items that increase retained earnings first after adjusted balance.) Monty Corporation Excerpt from Statement of Changes in Equity ta v $ Monty Corporation Income Statement $ -/25 $ CA Assume the average market price of the common shares outstanding was $31.70. What was Monty's price-earnings ratio? (Round answer to 1 decimal place, e.g. 52.5.) Price-earnings ratio times