Page 344 - F3 -FA Integrated Workbook STUDENT 2018-19

Chapter 22

Example 1b cont.

Complete solution
Hide Group consolidated statement of profit or loss for the year ended
31 December 20X5

$
Revenue (400,000 + 275,000 – 25,000 (W2)) 650,000

Cost of sales (230,000 + 165,000 – 25,000 (W2) + (372,500)
2,500 (W3))

–––––––
Gross profit 277,500

Distribution costs (72,000)
Administrative expenses (60,000)

–––––––
Operating profit 145,500

Interest payable (16,000)
–––––––

Profit before tax 129,500
Income tax expense (32,000)

–––––––
Profit for the year 97,500
–––––––

Profit for the year is attributable to:

Owners of parent 89,500
Non-controlling interest 8,000
–––––––

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