=+The statements of comprehensive income of P Limited and its subsidiaries S Limited and T Limited for the year ending 31 December 20X7 are as follows: P Limited € Profit before items set out hereunder Income from quoted investment Dividends receivable From S Limited From T Limited Administrative expenses Profit before tax Income tax expense Profit after taxation Additional Information 1. 298,500 1,200 19,200 12,600 331,500 (45,000) 286,500) 105,000 181,500 — S Limited € 120,000 1,500 - ~ 121,500 (16,500) 105,000 48,000 57,000 T Limited € 90,000 =. = = 90,00 (21,000) 69,000 30,000 39,000 % P Limited owns: (i) 80% of the ordinary shares of S Limited; (ii) 50% of the 6% preference shares of T Limited. The total issued amount of T Limited’s 6% preference share capital is €60,000; and (iii) 75% of the ordinary shares of T Limited. 28. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 541 With respect to the measurement of non-controlling interests at the dates of acquisition, the proportionate share method equated to the fair value method. 2. 3. 4. 5. At the date of acquisition of the shares by P Limited the balances of retained profits were: (i) S Limited €4,500 credit; and (ii) IT Limited €1,830 debit. Included in P Limited’s profit is €15,000 from sale of goods to S Limited. Of these goods S Limited still has in inventory on 31 December 20X7 goods invoiced at €3,000. All goods sold by P Limited produce a profit of 25% on the selling price. During the year ended 31 December 20X7, P Limited, S Limited and T Limited paid dividends of €60,000, €24,000 and €18,000 respectively. Retained earnings at 31 December 20X6 were as follows: P Limited € LEYS EW Requirement S Limited € 12,600 T Limited € ie 0 Prepare the bp tested statement of comprehensive income of P Lim- ited for the year ending 31 December 20X7 in a form suitable for publication.