The following account balances which appear in the adjusted trial balance of Princess Company were presented for you to prepare a single statement of comprehensive income for the year ended December...

The following account balances which appear in the adjusted trial balance of Princess
Company were presented for you to prepare a single statement of comprehensive income for the year ended December 31, 2018. Provide also a brief description on the importance of providing this information to users of financial statements.

Gain on sale of equipment                                                 150,000
Translation loss on foreign operation                                 300,000
Cost of goods sold                                                              9,000,000
Distribution cost                                                                  750,000
Sales                                                                                  14,250,000
Income tax expense                                                           1,425,000
Interest Revenue                                                                375,000
Administrative expenses                                                    450,000
Revaluation surplus during the year                                  1,800,000
Finance cost                                                                       225,000
Share of profit of associate                                                525,000