IFRS requires certain line items to be presented in the statement of comprehensive income (rather than just disclosed in the notes). Identify whether the following items are required in the statement of comprehensive income.
Definitions:
Wrongful Repudiation
The unjustified refusal to fulfill the terms of a contract, thereby breaching the agreement.
Present Values
A financial calculation that determines the current worth of a future sum of money or stream of cash flows, given a specified rate of return.
Market Rent
The prevailing rental rate for properties, typically of similar type and location, determined by the current market conditions.
Woodworking Equipment
Tools and machines used in the craft of making products from wood.
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