Reference no: EM132708475

Question - The following is information regarding PT KLM for the period ended December 31, 2019 (in thousand rupiah).

Fixed Asset Revaluation Surplus (before tax) 650,000

Sales of 1,600,000

Selling and Administrative Expenses 250,000

Division A sales loss (before tax) 260,000

Division A Operating Loss (before tax) 40,000

Cost of Goods Sold 840,000

Gain on the Difference in Calculation of Correction of Errors in 2018 520,000

Other income 120,000

Impairment Loss 130,000

Interest Expense 20,000

Sales Returns 100,000

PT KLM is engaged in trading business. In 2019, PT KLM closed its division operations. In 2018, an error was found in the form of unrecognized income in the year 2018 so that 2017 profits will be low (Ignore the tax effect of corrections mistake of 2018).

Required - Make statement of profit or loss and other comprehensive income for the period ended year 2018 in the correct format. Assume the tax rate is 30%.