Question: the following is information for martinez corp for the year...
The following is information for Martinez Corp. for the year
ended December 31, 2017:
|Net sales revenue||$1,380,000||Loss on inventory due to decline in net realizable value (NRV)||$84,000|
|Unrealized gain on FV-OCI investments||40,000||Loss on sale of equipment||40,000|
|Interest income||8,000||Depreciation expense related to buildings omitted by mistake in 2016||53,000|
|Cost of goods sold||828,000||Retained earnings at December 31, 2016||900,000|
|Selling expenses||69,000||Loss—other (due to expropriation of land)||63,000|
|Administrative expenses||46,000||Dividends declared||43,000|
The effective tax rate is 25% on all items. Martinez prepares financial statements in accordance with IFRS. The FV-OCI investments trade on the stock exchange. Gains/losses on FV-OCI investments are recycled through net income.
QUESTION: Prepare a multiple-step statement of comprehensive income for 2017, showing expenses by function. Ignore the calculation of EPS.