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The statements of financial position of Mars plc and Jupiter plc at 31 December 20X2 are as follows:
$
Sales
200,000
120,000
Cost of sales
60,000
Gross profit
140,000
Expenses
59,082
40,000
Dividends received
3,750
NIL
Profit before tax
84,668
20,000
Income tax expense
14,004
6,000
70,664
14,000
Surplus on revaluation
25,000
—
Total comprehensive income
95,664
Red Ltd acquired 75% of the shares in Pink Ltd on 1 January 20X0 when Pink Ltd"s retained earnings were $30,000 and the balance on Pink"s general reser ve was $8,000. The fair value of the non-controlling interest at the date was £32,000. Non-controlling interests are to be measured using method 2.
On 31 December 20X2 Red revalued its non-current assets. The revaluation surplus of £25,000 was credited to the revaluation reserve.
During the year Pink sold Red goods for $9,000 plus a mark-up of one-third. Half of these goods were still in inventor y at the end of the year.
Goodwill suffered an impairment loss of 20%.Required:
Prepare a consolidated statement of comprehensive income for the year ended 31/12/20X2
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