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Question 1 [10 points] The following information is taken from the draft financial statement of Oppong Corporation at their June 30, 2015 year end. Income from continuing operations before taxes is $5,050,000. The average tax rate for the company is 32%. There are 250,000 common shares outstanding. Oppong Corporation follows IFRS. Additional transactions which are not included in the above figures are as follows: 1. The fair value of Available for Sale (AFS) investments decreased by a pre-tax amount of $5,000 2. Disposal of a division generated a $340,000 loss before tax. 3. Machinery costing $715,000, with a book value of $212,000 was sold for $184,000. 4. Obsolete inventory was written off for $491,000 5. A prior period lawsuit, which had been deemed unlikely and unestimable, was settled and the company paid $310,000. 6. An underestimation of depreciation from 2011 totalling $8,500 was found and charged to retained earnings. Please make sure your final answers are accurate to the nearest whole number unless otherwise stated a) Calculate income before tax and discontinued operations. Income $ b) Calculate net income before discontinued operations. Net income S c) Calculate net income d) Calculate comprehensive income/loss Comprehensive income (loss)-S e) Calculate earnings per common share (EPS) from net income. Please make sure your final answer(s) are accurate to 2 decimal places. EPS -S

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