The general ledger trial balance of Emily Ltd includes the following accounts at December 31, 2020 : Sales revenue Interest income Share of profit of associates accounted for using the equity method Gain on sale of securities investments Decrease in inventories of finished goods Raw materials and consumables used Employee benefit expenses Depreciation of property, plant and equipment Impairment loss on property Finance costs Other expenses Income tax expense $975,000 20,000 15,000 10,000 25,000 350,000 150,000 45,000 80,000 35,000 45,000 75,000 Additional information: Securities investments are revalued regularly, with changes in fair value recognised in other comprehensive income and accumulated in equity in the Investments revaluation reserve. Movements in the Investments revaluation reserve during the year ended December 31, 2020 comprised: (1) gross revaluation increases recognised $44,000 (related tax effect of $14,000) (2) gross reclassifications on sale of securities investments $10,000 gain (related tax effect of $3,000). Emily Ltd uses the single statement format for the statement of profit or loss and other comprehensive income. Emily Ltd presents an analysis of expenses by nature in the statement of profit or loss and other comprehensive income. Required: Prepare the statement of profit or loss and other comprehensive income of Emily Ltd for the year ended December 31, 2020 in accordance with IAS1 (state all amounts in thousands)