You can sure take your chance. But in general foreign income is considered while sponsor lives in Canada. (e.g. income from US source after sponsor moved to Canada while also earning Canadian income.)I spoke to a representative today. She specifically mentioned that there's no status requirement and only Line 150 will be considered in previous three years. I know I am taking chances but as per the rules mentioned I feel I am good. Based on my parents age, it doesn't make sense to not utilize this opportunity. I will update this thread when I know the outcome. Thank you for your inputs on this.
There is no status requirement (that's on the book) because Canadian income before sponsor became a PR also counts (e.g. as a foreign worker before getting PR)
Let us know how is the out come. We do not have a lot of feedback on cases like this. I see lots of questions on insufficient income to sponsor but not as many posts when the applicant got accepted or rejected.