VWX Ltd. is analyzing three potential projects. Project A requires an initial investment of $420,000 and offers cash inflows of $110,000 in year one, $120,000 in year two, $130,000 in year three, and $100,000 in year four. Project B requires an initial investment of $470,000 with cash inflows of $120,000 in year one, $130,000 in year two, $140,000 in year three, and $110,000 in year four. Project C requires an initial investment of $520,000 with cash inflows of $130,000 in year one, $140,000 in year two, $150,000 in year three, and $120,000 in year four.

Requirements:

1. Calculate the NPV for each project using a 7% discount rate.
2. Determine the PI for each project.
3. Prepare a statement of comprehensive income for the chosen project.