Reference no: EM132642277

The records of HACK TO CHOP Co. on December 31, 2021 showed the following information:

Sales                                                        2,000,000

Sales discounts                                                20,000

Cost of sales                                                 800,000

Distribution costs                                             96,000

Administrative costs                                         240,000

Casualty loss on typhoon                                      40,000

Dividends received from investments in FVPL             24,000

Dividends received from investment in associate        48,000

Share in the profit of an associate                            72,000

Dividends declared and paid                                      28,000

Interest expense                                                   44,000

Unrealized gain on investments in FVPL                         30,000

Unrealized gain on investments in FVOCI                      38,000

Income tax expense                                                 300,000

Loss on revaluation                                                       26,000

Re-measurements of the net defined benefit liability (asset) - gain  22,000

Correction of understatement in depreciation in prior year             32,000

Translation adjustment of foreign operation - loss                             8,000

Question 1: Make the Statement of Profit or Loss and Other Comprehensive Income as of December 31, 2021