in the traditional approach to financial reporting in canada net income is thought of as the increase of wealth that belongs to the owners of the entity i

Required:
a. Prepare an income statement for Atnarko using the traditional approach. Explain why the measure of income is useful from the perspective of shareholders.
b. Devise three alternative measures of net income and prepare income statements on these bases. Explain which users of the income statement would find your alterna tive measures useful.

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