Various Reporting formats The following information was taken from the records of Gibson Inc. for the year 2010 Income tax applicable to income from continuing operations $119,000; income tax applicable to loss on discontinued operations $25,500; and unrealized holding gain on non-trading equity securities $15,000.

Ordinary shares outstanding during 2010 were 100,000.
Instructions
(a) Prepare a comprehensive income statement for 2010 using the combined approach.
(b) Prepare a retained earnings statement for2010.

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Gain on sale of plant assets Loss on discontinued operalions Administrative expenses Ront ravenua Cash dividends declared Retained earnings January 1, 2010 Cost of goods sold 150.000 $ 95.000 75,000 600.000 850.000 240.000 Soling expenses Lass en impairment of land 60,000 1,700.000 Sales