The following information was taken from the records of Vega SA for the year 2019: income tax applicable to income from continuing operations R$119,000, income tax applicable to loss on discontinued operations R$25,500, and unrealized holding gain on non-trading equity securities R$15,000.

Ordinary shares outstanding during 2019 were 100,000.
Instructions
a. Prepare a comprehensive income statement for 2019 using the one statement approach.
b. Prepare a retained earnings statement for 2019.

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R$ 95,000 Cash dividends declared 75,000 Retained earnings January 1, 2019 240,000 Cost of goods sold 40,000 Selling expenses Gain on sale of plant assets R$ 150,000 Loss on discontinued operations Administrative expenses 600,000 850,000 Rent revenue 300,000 1,700,000 Loss on impairment of land 60,000 Sales revenue