The following information was taken from the accounting records of Lumber Inc. at December 31, 2023. Lumber Inc. follows IFRS. Assume a tax rate of 30%. How much is the operating profit on the statement of comprehensive income by function for the current year?

Common shares, 40,000 outstanding on January 1, 2023 $400,000

Common shares, 50,000 outstanding on December 31, 2023 500,000

Cost of goods sold 352,000

Dividends paid 40,000

Gain on sale of assets 8,000

Selling expenses 165,000

Administrative expenses 70,000

Interest expense 9,000

Income from operating discontinued operations 7,500

Gain on sale of discontinued operations 51,000

Prior year error—debit to retained earnings 9,500

Retained earnings, January 1, 2023 (prior to adjustment) 475,000

Sales revenue 810,000