Haliteck Corporation is based in Halifax. At the end of 20X4, the company’s accounting records show the following items:

a. A $ 100,000 loss from hurricane damage.

b. Total sales revenue of $ 2,600,000, including $ 400,000 in the Decolite division, for which the company has a formal plan of sale.

c. Interest expense on long- term debt of $ 65,000.

d. Increase in fair value of marketable securities of $ 55,000.

e. Operating expenses of $ 2,100,000, including depreciation and amortization of $ 500,000. Of the total expenses, $ 390,000 (including $ 75,000 in depreciation and amortization) was incurred in the Decolite division.

f. Haliteck Corporation wrote down tangible capital assets by $ 35,000 during the year in order to reduce the Decolite division’s assets to their estimated recoverable amount.

g. Haliteck has long- term debt that is denominated in U. S. dollars. Due to the weakening of the U. S. dollar during 20X4, the company has an unrealized gain of $ 20,000.

h. Haliteck has a subsidiary in France. The euro strengthened during the year, with the result that Norse had an unrealized gain of $ 15,000 on its net investment in the subsidiary.

i. Haliteck’s income tax expense for 20X4 is $ 76,000. This amount is net of a tax recovery of $ 20,000 on the Decolite division and a $ 25,000 tax benefit from hurricane damage.

j. The company had 34,000 common shares outstanding at the beginning of the year; an additional 8,000 were issued on March 31.

Required:

Prepare a continuous SCI.