IFRS Multiple Choice Question 08 Portugal, Inc. has the following amounts related to its activities for the year ended December 31, 2015:

IFRS Multiple Choice Question 08

Portugal, Inc. has the following amounts related to its activities for the year ended December 31, 2015:

Sales to customers $6,250,000

Gain on sale of equipment $ 450,000

Gain on sale of investments $ 950,000

Loss on sale of land $ 300,000

Portugal, Inc. uses IFRS for its external financial reporting. How much revenue should Portugal, Inc. report on its income statement for the year ended December 31, 2015?

$7,350,000

$6,250,000

$7,200,000

$7,650,000