=+Statement of Comprehensive Income for the Year Ended 31 December 2002 € € P Limited Gross profit Administration expenses Profit on sale of tangible non-current assets Depreciation Profit before tax Income tax expense 10,000 (1,000) 2,000 (4,000) 7,000 S Limited 6,000 (2,000) - (375) 6,02) 1,000) Profit after tax (1,500) 23195 6,000 540 INTERNATIONAL FINANCIAL ACCOUNTING AND REPORTING Additional Information 1. 2. P Limited owns 75% of the equity share capital of S Limited. The profit on sale of tangible non-current assets in P Limited arose as a result of a transfer of a part of its plant and machinery to S Limited on 30 June 2002. € Cost to P Limited Accumulated depreciation 30 June 2002 Net book value Value transferred to S Limited Profit on transfer 10,000 4,500 5,500 7,500 2,000 \ . S Limited had no non-current assets prior to 30 June 2002 and has not acquired/ disposed of any since. The group’s policy is to depreciate plant at 10% on cost on a month-by-month basis. S Limited has, however, been calculating depreciation on the transferred asset at 10% of the transfer value on a month-by-month basis. Requirement Draft the consolidated statement of comprehensive income for the year ended 31 December 2002.