Page 223 - Microsoft Word - 00 IWB ACCA F7.docx

Consolidated statement of profit or loss

Example 1 cont.

Solution

Prince Group statement of profit or loss and other comprehensive income for
the year ended 31 March 20X4
$

Revenue 650,000
Cost of sales (337,000)
–––––––

Gross profit 313,000
Distribution costs (35,600)
Administrative expenses (55,000)
Investment income 1,500
Finance costs (2,700)

–––––––
Profit before tax 221,200
Income tax expense (75,800)
–––––––

Profit for the year 145,400

Other comprehensive income
Gain on revaluation of land 3,500
–––––––

Total comprehensive income 148,900
–––––––
Profit for the year is attributable to:
Owners of parent (balancing figure) 131,900

Non-controlling interest (W4) 13,500
–––––––
145,400
–––––––

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