=+30. JOINT VENTURES 589 Statement of Comprehensive Income for the Year Ended 31 December 2005

€'000 Revenue 500 Cost of sales (200)

Gross profit 300.

Administrative expenses (100)

Profit before tax 200.

Income tax (50)

Profit after tax 150.

Statement of Financial Position as at 31 December 2005

€'000 ASSETS Non-current Assets Plant and equipment 500 Current Assets Inventory 30 Receivables 40 Bank and cash 0 580 EQUITY AND LIABILITIES Capital and Reserves

€1 ordinary shares 200 Retained earnings 320 Current Liabilities Trade payables _60 580