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Canada Wheels Ltd. manufactures and sells parts for automobiles. Canada Wheels Ltd. has the following...

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Canada Wheels Ltd. manufactures and sells parts for automobiles. Canada Wheels Ltd. has the following balances in its general ledger on December 31, 2018. (In thousands of Cana- dian dollars). The company had 15,000 common shares outstanding throughout this fiscal year. The com- pany did not have any preferred shares. Assume that the income tax rate is 30% on all items. Cost of Sales Sales Revenue Interest Expense on LIT Debt Selling and Administrative expense Write-off of obsolete inventory Impairment of tangible capital assets General Advertising expense Amortization Expense Restructuring Cost Gain on disposal of discontinued segment Deferred Loss on Pension Funds 90,000 143,700 21,000 12,000 3,000 1,500 1,000 4,000 1,200 15,000 2,500 Required: Prepare, in good form, a comprehensive income statement, using a multi-step for- mat and on the basis of functions of expense. No disclosure notes required

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