The following information was obtained for Lisa’s Fashionista Ltd for the year ended 30 June 2019:

Administrative expenses Cost of sales Dividends declared Gain on asset revaluation Gain on sale of machinery Income tax expense for current year Losses on investments in equity instruments Net sales revenue Retained earnings (1/7/18) Selling and distribution expenses Uninsured Flood Loss

$

400 000 1 760 000 200 000 80 000 120 000 440 000 8 000 3 600 000 240 000 500 000 40 000

Required

A.    Prepare a statement of profit or loss and other comprehensive income for Lisa’s Fashionita Ltd for the year ended 30 June 2019 so as to comply with the requirements of IAS 1/AASB 101.

B.    Prepare an appropriate note for the disclosure of income.

C.    Prepare an appropriate note for expenses classified by function.