What is the net amount to be included in the statement

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Question - Helen plc Helen plc, a company with several subsidiaries, acquired 35% of Troy Ltd on 1 January 202% for £90,000. At that date Troy Ltd had share capital of £70,000 and retained earnings of £96,000. It also owns a plot of land which had a fair value of £60,000 compared to a carrying amount of £42,000; this fair value has not been incorporated into the books of Troy Ltd and the fair value is unchanged at 31 December 20x9. Since the investment was made, Troy Ltd has reported profit for the year of £118,000 including £110,000 made in the current year. The investment in Troy Ltd has become impaired by £2,560 during the current year. What is the net amount to be included in the consolidated statement of profit or loss for the year ended 31 December 20X9 in respect of Troy Ltd?

Reference no: EM133079188

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