Ejoy, a public limited company, has acquired two subsidiaries. The details of the acquisitions are as follows:

The draft statements of comprehensive income for the ended 31 May 2006 are:

The following information is relevant to the preparation of the group financial statements:
(i) Tbay was acquired exclusively with a view to sale and at 31 May 2006 meets the criteria of being a disposal group. The fair value of Tbay at 31 May 2006 is $300 million and the estimated selling costs of the shareholding in Tbay are $5 million.
(ii) Ejoy entered into a joint venture with another company on 31 May 2006. The joint venture is a limited company and Ejoy has contributed assets at fair value of $20 million (carrying value $14 million). Each party will hold five million ordinary shares of $1 in the joint venture. The gain on the disposal of the assets ($6 million) to the joint venture has been included in 'other income'.
(iii) On acquisition, the financial statements of Tbay included a large cash balance. Immediately after acquisition Tbay paid a dividend of $40 million. The receipt of the dividend is included in other income in the statement of comprehensive income of Ejoy. Since the acquisition of Zbay and Tbay, there have been no further dividend payments by these companies.
(iv) Zbay has a loan asset which is being carried at $60 million in the draft financial statements for the year ended 31 May 2006. The loan's effective interest rate is 6 per cent. On 1 June 2005 the company felt that because of the borrower's financial problems, it would receive $20 million in approximately two years time, on 31 May 2007. At 31 May 2006, the company still expects to receive the same amount on the same date. The loan asset is classified as 'loans and receivables'.
(v) On 1 June 2005, Ejoy purchased a five-year bond with a principal amount of $50 million and a fixed interest rate of 5 per cent which was the current market rate. The bond is classified as an 'available for sale' financial asset. Because of the size of the investment, Ejoy has entered into a floating interest rate swap. Ejoy has designated the swap as a fair value hedge of the bond. At 31 May 2006, market interest rates were 6 per cent. As a result, the fair value of the bond has decreased to $48.3 million. Ejoy has received $0.5 million in net interest payments on the swap at 31 May 2006 and the fair value hedge has been 100 per cent effective in the period. No entries have been made in the statement of comprehensive income to account for the bond or the hedge.
(vi) No impairment of the goodwill arising on the acquisition of Zbay had occurred at 1 June 2005. The recoverable amount of Zbay was $630 million and that of Tbay was $290 million at 31 May 2006.
Impairment losses on goodwill are charged to cost of sales.
(vii) Assume that profits accrue evenly throughout the year and ignore any taxation effects.
Required:
Prepare a consolidated statement of comprehensive income for the Ejoy Group for the year ended 31 May 2006 in accordance with International Financial Reporting Standards.

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Ordinary Fair value of Ordinary share Date of share capital Reserves at net assets at Cost of capital of $ Companyacquisition f acqisition acquisition investment acquired Sm bay bay Sm 200 1 December 2005120 Sm 170 80 Sm 600 310 Sm 520 216 June 2004 160 72 Zbay Ejoy Sm 2 500 1 800)( 700 Tbay Sm 800 (600) 200 Smi 1 500 1 200) 300 10 (120) (90) (40) 60 (26) 34 20 nue Cost of sales Gross profit Other income Distribution costs 70 (130) (100) nistrative expenses Finance costs Profit before tax noome tax expense Profit for the period Profit for year 31 May 2005190 (70) (60) (20) 50 (20) 30 15 (50) 490 (200) 290