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Question 2: [10 marks] The following balances were taken from adjusted trial balance (partial trial balance) at 31/12/2019: Sales revenue 130000 Revaluation surplus 1500 Freight out 4700 Unearned revenue 3500 Sales returns and allowances 10000 Building held for investment 25000 Loss on division disposal 3000 land 20000 cash 20000 Cost of goods sold 65000 Building-held for use in Interest expense 5000 operation 75000 capital 14000 Salaries expenses 6000 Accumulated depreciation-building 7500 Retained earning 45000 Dividends revenue 2000 Loss on litigation 1000 Depreciation exp-building 2500 Bad debt expense 400 Additional information: 1-30% of the building is occupied by the sales department 2- applicable tax rate = 10% 3-50% of salary expense is for sales department 4- ordinary shares outstanding for 2019 total 100,000 shares Required: prepare statement of comprehensive income for 2019- use one statement approach. (use table at page 4 to prepare the statement) 1 prepare non-current assets section at statement of financial position at 31/12/2019. Question 2: 1 Question Answer 1- what is the amount of selling expenses that will be reported at income statement for 2019? 2- what is the net income for 2019? 3- by what amount other comprehensive income will be reported at comprehensive income for 2019? 4- What is the amount of property, plant, and equipment to be reported at 31/12/2019 statement of financial position

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