You must fill in your name, student ID, and section for this worksheet to generate the questions for you properly. A Statement of Financial Performance of Elf Inc. was prepared incorrectly as follows. Question What is the correct amounts to be reported for the following items? If the item should not be reported on the statement, please write "n/a". Answer in the yellow boxes only Elf Inc. Statement of Financial Performance For the Year ended Dec 31, 2020 Sales Cost of sales Operating expenses Gains on sales of assets (retail division) Interest expense Dividend income Unrealized gains on investment in Bea Inc. Income taxes (40%) Net income On the multi-step statement of financial performance for the year ended Dec 31, 2020 (5 marks each) 300.000.00 - 120,000.00 - 20.000.00 10,000.00 -5,800.00 4.010.00 6.600.00 - 69,924.00 104.886.00 Gross Profit Operating Income Income from Continuing Operations Discontinued Operations-- Disposal Discontinued Operations - Operations Net Income Comprehensive Income (lf same as net income, enter same amount) Earnings per Share (Net Income) Earnings per Share (Discontinued Operations) 1 On the statement of changes in shareholders' equity for the year ended Dec 31, 2020 (5 marks each) 2 Additional information: Elf discontinued their retail business in May. Retail sales and cost of sales from January-May 2020 were as follows: Retail sales 18,000.00 Retail COGS 7,200.00 Assets from the retail business were sold for a gain of 10.000.00 Elf incurred a loss due to flood damages at the factory for 5,000.00 This amount is included in operating expenses. Elf changed an estimated of bad debts from 1% of sales to 2% of sales. The operating expense of the year includes a bad debt expense of 2% of sales. Elf follows IFRS and investment in Bea Inc. is FV-OCI. Shareholders' equity section on January 1, 2020 consists of: Common shares 50.000.00 Retained earnings 80.000.00 AOCI 10.000.00 Elf has 10.000 common shares outstanding Elf declared and paid dividends during 2020 for the amount 33,000.00 Ending balance of Retained Earnings Ending balance of Accumulated Other Comprehensive Income Ending balance of Total Shareholders' Equity 3 4 5 6 7