The following is information for Pina Colada Corp. for the year ended December 31, 2020: Sales revenue $1,100,000 Loss on inventory due to decline in net realizable value $71,000 Unrealized gain on FV-OCl equity investments 46,000 Loss on disposal of equipment 25,000 Interest income 5,000 53,000 Cost of goods sold Selling expenses Administrative expenses Dividend revenue 660,000 55,000 52,000 18,000 Depreciation expense related to buildings omitted by mistake in 2019 Retained earnings at December 31, 2019 Loss from expropriation of land Dividends declared 980,000 56,000 43,000 The effective tax rate is 30% on all items. Pina Colada prepares financial statements in accordance with IFRS. The FV-OCl equity investments trade on the stock exchange. Gains/losses on FV-OCl investments are not recycled through net income. Prepare a multiple-step statement of financial performance for 2020, showing expenses by function. Ignore calculation of EPS. Pina Colada Corp. Statement of Financial Performance For the Year Ended December 31, 2020 Sales Revenue S 1100000 Cost of Goods Sold 660000 Gross Profit/(Loss) 440000 Operating Expenses Selling Expenses S 55000 Administrative Expenses 52000 107000 Income from Operations 333000 Other Revenues and Galins Interest Income 5000 Dividend Revenue 18000 23000 307000 Other Expenses and Losses Loss on Inventory Due To Decline in Net Realizable Value 71000 25000 Loss on disposal of Equipment Loss from Expropriatlon 56000 152000 Income before Income Tax 155000 Income Tax Expense 46500 Net Income /(Loss) 108500 Other Comprehensive Income Items that will not be reclassified subsequently to net income or loss: Unrealized Gain on FV-OCI Investments (Net Of Income Tax 32200 Comprehensive Income $ 76300 Prepare the retained earnings section of the statement of changes in equity for 2020. (List items that increase retained earnings first following the adjustment of prior years.) Pina Colada Corp Excerpt from Statement of Changes in Equity For the Year Ended December 31, 2020 Retained Earnings Balance, January 1, as reported $ Correction for Overstatement of Net Income In Prlor Perlod (Net of Tax) Retained Earnings Balance, January 1, as restated 980000 Add Net Income/(Loss) Less Dividends Declared Retained Earnings Balance, January 1, as reported S eTextbook and Media Prepare the journal entry to record the depreciation expense omitted by mistake in 2019. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit