Reference no: EM133176163

Question - The records of Tigerx Company showed the following data for the year 2020:

Sales P12,500,000

Sales returns and allowances 260,000

Sales discounts 140,000

Purchases 7,300,000

Freight in 250,000

Purchase returns and allowances 180,000

Purchase discounts 120,000

Merchandise inventory, January 1 4,500,000

Merchandise inventory, December 31 5,800,000

Rent income 300,000

Dividend income 200,000

Interest income 200,000

Income tax expense 1,104,000

Doubtful accounts 150,000

Freight out 120,000

Office salaries 900,000

Sales salaries 700,000

Salesman's commission 400,000

Loss on sale of equipment 100,000

Depreciation - building 400,000

Depreciation - office equipment 150,000

Depreciation - store furniture 100,000

Depreciation - delivery truck 150,000

Required - Prepare the statement of comprehensive income for the year using: Nature of expense method with supporting notes.