Expenses are presented in the statement of comprehensive income using

a. nature of expense method.

b. function of expense method.
c. single or two-statement method.
d. a or b

Identify the contracts to which PFRS 15 may be applied.

a. Contract 1 c. Contracts 1 and 3
b. Contract 2 d. None of these

Marianne Company provided the following information for the current year:
Sales 9,500,000
Interest revenue 250,000
Gain on sale of equipment 100,000
Revaluation surplus during the year
1,200,000
Share of profit of associate
350,000
Cost of goods sold 6,000,000
Finance cost 150,000
Distribution costs 500,000
Administrative expenses 300,000
Translation loss on foreign operation 200,000Income tax expense
950,000
What is the net income for the current year?
a. 2,300,000
b. 3,300,000
c. 4,200,000
d. 2,100,000