Reference no: EM132498065

The following information for the year ended 31 December 2020 is available for Yalaing Ltd., a company reporting under IFRS:

Net sales revenue                                                    $ 3,400,000

Retained earnings at 31 December 2019                         1,300,000

Loss due to earthquake damage                                         340,000

Gain on sale of equipment                                                   22,000

Unearned revenue                                                           12,000

Interest income                                                               23,000

Cost of goods sold                                                       1,300,000

Selling expenses                                                             120,000

Dividends declared                                                          75,000

Dividend revenue                                                            31,000

Unrealized loss on FV-OCI investments                                 9,000

Operating loss from discontinued operation                             141,000

Administrative expenses                                                     162,000

Additional information:

1. 50,000 common shares were outstanding throughout the year ended 31 December 2020.
2. The income tax rate is 30%
3. All criteria for discontinued operation classification have been met

Required:

Answer the following questions for the year ended 31 December 2020. Show details of calculations.

Question a) What is the income from operations?

Question b) What is the total of other revenues and gains and other expenses and losses?

Question c) What is the income (loss) from discontinued operations for the year?

Question d) What is the net income for the year?

Question e) What is the total comprehensive income for the year?

Question f) What is the earnings per share for the year?