Page 251 - FR Integrated Workbook 2018-19
P. 251
Consolidated statement of profit or loss
Example 1
Statement of profit or loss
On 1 April 20X3 Prince purchased 75% of the equity shares in Sheena. The
summarised statements of profit or loss and other comprehensive income for
the two entities for the year ended 31 March 20X4 are:
Prince Sheena
$ $
Revenue 450,000 240,000
Cost of sales (260,000) (110,000)
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Gross profit 190,000 130,000
Distribution costs (23,600) (12,000)
Administrative expenses (27,000) (23,000)
Investment income 4,500
Finance costs (1,500) (1,200)
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Profit before tax 142,400 93,800
Income tax expense (48,000) (27,800)
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Profit for the year 94,400 66,000
Other comprehensive income
Gain on revaluation of land 2,500 1,000
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Total comprehensive income 96,900 67,000
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