3. Here are some data on Fincorp, Inc. that you should use for problems ahead. 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.

a) Construct the statement of comprehensive position for Fincorp for 2014 and 2015. What is shareholders equity?

b) What happened to net working capital during the year? What about noncash net working capital?

c) Construct an income statement for Fincorp for 2014 and 2015. What was the addition to retained earnings for 2015? How does that compare with the increase in shareholders equity between the 2 years?

2015 2014 $ 350 $ 300 4,100 (320) 4,000 (300) 430 550 350 300 2,400 3,000 770 680 Trade payables Revenue Depreciation Short-term investments Inventories Long-term debt Provisions Administrative expenses Federal and provincial taxes Trade receivables Finance income Finance expensel Property, plant, and equipment Dividends paid Cost of goods sold Cash and cash equivalents (550) (420) (500) (400) 400 450 50 120 (150) 5,800 (410) (1,700) 300 (150) 5,000 (410) (1,600) 800 * Taxes are paid in their entirety in the year in which the tax obligation is incurred. b Finance income is gain in value of short-term investments. Property, plant, and equipment are net of accumulated depreciation and impairment losses since the assets were installed. 2015 2014 $ 350 $ 300 4,100 (320) 4,000 (300) 430 550 350 300 2,400 3,000 770 680 Trade payables Revenue Depreciation Short-term investments Inventories Long-term debt Provisions Administrative expenses Federal and provincial taxes Trade receivables Finance income Finance expensel Property, plant, and equipment Dividends paid Cost of goods sold Cash and cash equivalents (550) (420) (500) (400) 400 450 50 120 (150) 5,800 (410) (1,700) 300 (150) 5,000 (410) (1,600) 800 * Taxes are paid in their entirety in the year in which the tax obligation is incurred. b Finance income is gain in value of short-term investments. Property, plant, and equipment are net of accumulated depreciation and impairment losses since the assets were installed