Top Brands Limited reported the following selected information for the year ended March 31, 2017:

The company's income tax rate is 30%. The company reports gains and losses on its equity investments as other comprehensive income.
Instructions
Prepare an income statement and a separate statement of comprehensive income for Top Brands Limited.

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Advertising expense Cash dividends-common Depreciation expense Fees earned Gain on disposal of equipment Income tax payable 7,000 Interest expense 5,000 Loss on discontinued operations 3,000 Loss on equity investments 62,000 1,500 6,600 $ 5,500 18,000 3,000 34,000 19,000 8,000 Rent revenue Retained earnings, April 1, 2016 Telephone expense