The general ledger trial balance of Paradiso Ltd, a medical manufacturing and research company, includes the following accounts at 30 June 2022. 

 Sales revenue                           $ 2 600 000 Interest income                                 4 000 Gain on sale of plant                          52 000 Rental income                                       4 000 Royalty income                                   20 000 Other revenue                                        2 000 Cost of sales                                            1 640 000 Interest on borrowings                            66 000 Sundry borrowing costs                            2 000 Research expense                                     102 000 Advertising expense                                   50 000 Sales staff salaries                                     194 000 Amortisation of patents                             14 000 Freight out                                                 64 000 Shipping supplies                                      32 000 Depreciation on sales equipment              10 000 Administrative salaries                             144 000 Legal and professional fees                      26 000 Office rent expense                                 60 000 Goodwill                                                  15 000 Insurance expense                                   28 000 Investment                                              22 000 Depreciation of office equipment          32 000 Stationery and supplies                           10 000 Available for sale security                     12 000 Miscellaneous expenses                         4 000 Income tax expense                             62 000  Additional information • Land was revalued upward by $200 000 during the year ended 30 June 2022. The related tax was $60 000. • Paradiso Ltd uses the single statement format for the statement of profit or loss and other comprehensive income.  Required: Prepare the statement of profit or loss and other comprehensive income of Paradiso Ltd for the year ended 30 June 2022 (state the expenses by function). Clearly show all workings if expenses/revenues are combined.