Construct an income statement for Fincorp for 2014 and 2015. What was the addition to retained earnings for 20 15? How does that compare with the increase in shareholders' equity between the 2 years?
Here are some data on Fincorp, Inc., that you should use for problems 23 to 32. Fincorp follows IFRS. The statement of financial position items correspond to values at year-end of 2014 and 2015, while the statement of comprehensive income items correspond to revenues or expenses during the year ending in either 2014 or 2015. All values are in thousands of dollars.

2015 2014 $ 350 Trade payables $ 300 Revenue 4,100 4,000 (320) (300) Depreciation Short-term investments 550 430 Inventories 350 300 Long-term debt 2,400 3,000 Provisions 770 680 Administrative expenses (550) (500) Federal and provincial taxes (420) (400) Trade receivables 400 450 Finance income 120 50 Finance expense" (150) (150) Property, plant, and equipment 5,800 5,000 (410) Dividends paid (410) (1,600) Cost of goods sold (1,700) Cash and cash equivalents 300 800