According to AASB 101,the income statement provides a total profit figure to which opening retained earnings is added and from which dividends are deducteD.

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According to AASB 101, the income statement provides information about the financial performance of an entity during the reporting period, but it does not provide a total profit figure. The statement of comprehensive income provides a subtotal of profit or loss for the period, but this is not the total profit figure. Additionally, dividends are not deducted from this subtotal or from the opening retained earnings. Dividends are typically declared and subtracted from the retained earnings balance separately, outside of the income statement.

According to AASB 101,the Income Statement Provides a Total Profit