Account Name Balance (2019) $ Income tax Expense Decrease in porperty valulation Current Assets Cost of Sales Distribuiton Costs Common Shares Issued Finance Costs Stock Option Compenstation Profit before Taxes Retained Earnings(endof year) Dividends Paid Other Income Gross Profit Share Captial (end of year) Contributed surplus (beginnning of year) Non-Current Liablilities Change in Currency Translation(income) Retained Earnings(beginning of year) Administrative Expenses Total Liabilities Total Assets 600,000 35,000 6,500,000 7,500,000 900,000 895,000 90,000 40,000 1,750,000 5,000,000 150,000 40,000 3,500,000 3,395,000 60,000 5,000,000 40,000 4,000,000 800,000 8,000,000 16,500,000 Reed Geophysical Inc. Statement of Income For the year ended December 31, 2020 Revenue Cost of sales Purchases Gross Profit Other income this should be subtracted (7,500,000) Expenses Administrative expenses Distribution costs Total Finance costs Total Profit before taxes 1,750,000 Income tax expense 600,000 Profit for the year 1,150,000 1,150,000 Reed Geophysical Inc. Statement of Comprehensive Income For the year ended December 31, 2018 (in $) Profit for the year Other comprehensive income/loss Change in currency Translation Decrease in property valuation Total other comprehensive income/loss for the year Total Comprehensive income 2019 3,395,000 60,000 Reed Geophysical Inc. Statement of Changes in Equity For the year ended December 31, 2018 (in $) 2020 Share Capital Balance at beginning of year 3,395,000 Common shares issued Balance at end of year Contributed Surplus Balance at beginning of year Stock option compensation Balance at end of year Retained Earnings Balance at beginning of year Profit applicable to common share holders Dividends paid Balance at end of year 5,000,000 Total Other Comprehensive Income/Loss for the year Balance at beginning of year Change in currency translation Change in property revaluation Balance at end of year Total Equity 60,000 Reed Geophysical Inc. Statement of Financial Position As at December 31, 2020 (in %) Assets Non-current assets Property, plant, and equipment Decrease in property revaluation Intellectual property Total non-current assets Current assets Inventories Trade Receivables Prepaid expenses Cash and cash equivalents Total current assets Total assets Equity and liabilities Equity Contributed equity Share capital Retained earnings Total equity Non-current liabilities Current liabilities Trade and other payables Short-term borrowings Current position of long-term borrowings Total current liabilities Total liabilities Total equity and liabilities