The ledger of Gower Limited at December 31, 2020, contains the following summary data.

Your analysis reveals the following additional information that is not included in the above data.
1. The entire puzzles division was discontinued on August 31. The income from operations for this division before income taxes was £15,000. The puzzles division was sold at a loss of £74,000 before income taxes.
2. The company had an unrealized gain on non-trading securities of £120,000 before income taxes for the year.
3. The income tax rate on all items is 30%.

Instructions
Prepare a statement of comprehensive income for the year ended December 31, 2020. Use the format illustrated in the Practice Problem.

Transcribed Image Text:

Net sales Selling expenses Other income and expense Cost of goods sold Administrative expenses £1,580,000 £1,100,000 70,000 (6,000) 90,000