View Policies -/36 Current Attempt in Progress Joe Schreiner, controller for Riverbed Company Inc., recently prepared the company's income statement and statement of changes in equity for 2020. Schreiner believes that the statements are a fair presentation of the company's financial progress during the current period, but he also admits that he has not examined any recent professional pronouncements on accounting. RIVERBED COMPANY INC. Income Statement For the Year Ended December 31, 2020 Sales revenues $365,000 Cost of goods sold 201,000 Gross profit 164,000 Selling expenses 44,800 Administrative expenses 30,000 74.800 Income before income tax 89,200 Other revenues and gains Unrealized gain on FV-OCl equity investments 36,300 Dividend revenue 40,300 165.800 to search Ne 0 DELL Question 3 of 3 Net income $ 116,060 $ 214,000 RIVERBED COMPANY INC. Excerpt from Statement of Changes in Equity For the Year Ended December 31, 2020 Retained earnings, January 1, 2020 Add: Net income for 2020 $ 116,060 Gain on disposal of long-term investments 30,200 $ 146,260 Deduct: Loss on expropriation 12,800 Correction of mathematical error (net of tax) 16,309 (29,109) Retained earnings, December 31, 2020 117,151 $ 331,151 (a) here to search O Ne $ 331,151 (a) Assume that Riverbed Company follows IFRS. Assume that investments are accounted for as FV-OCl equity investments with gains/losses not recycled through net income. Prepare a statement of financial performance showing expenses by function. Ignore calculation of EPS. (Round answers to decimal places, e.g. 5,275. Round tax rate to 4 decimal places, eg. 52.7525%) RIVERBED COMPANY INC. Statement of Comprehensive Income search Ne NI