E3.17 (LO 3, 4) (Various Reporting Formats) The following information was taken from the records of Vega SA for the year 2025: income tax applicable to income from continuing operations R$119,000, income tax savings applicable to loss on discontinued operations R$25,500, and unrealized holding gain on non-trading equity securities R$15,000, net of tax.

Gain on sale of plant assets R$ 95,000 Cash dividends declared R$ 150,000 Loss on discontinued operations 75,000 Retained earnings, January 1, 2025 600,000 Administrative expenses 240,000 Cost of goods sold 850,000 Rent revenue 40,000 Selling expenses 300,000 Loss on impairment of land 60,000 Sales revenue 1,700,000 Ordinary shares outstanding during 2025 were 100,000.

Instructions

a. Prepare a comprehensive income statement for 2025 using the one statement approach.

b. Prepare a retained earnings statement for 2025.