=+The statements of comprehensive income of X Limited and Y Limited are as follows for the year ended 31 December 1998: X Limited € Revenue 10,000 Y Limited € 7,000 Cost of sales Gross profit (6,000) 4,000 (1,000) 6,000 28. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Administration expenses Distribution costs Profit before tax Income tax expense Profit after tax Additional Information 1. (1,000) = 3,000 (500) 2,500 (500) (700) 4,800 (300) 4,500 X Limited bought the following shares in Y Limited on 28 February 1998: e e 9,000 Ordinary Shares 1,000 10% Preference Shares (issued: 10,000) (issued: 5,000) 539 With respect to the measurement of non-controlling interests at the date of acquisi- tion, the proportionate share method equated to the fair value method. 2. 3. 4, The distribution costs in the statement of comprehensive income of Y Limited were incurred in November 1998. ,, During the year ended 31 December 1998, X Limited and Y Limited paid dividends of €200 and €4,500 respectively. The dividend paid by Y Limited includes the full years dividend for preferences shares. X Limited has not yet accounted for dividends received from Y Limited. Retained earnings of X Limited and Y Limited are as follows: X Limited € Profit after tax Retained earnings b/f Dividends paid — year ended 31 December 1998 Retained earnings at 31 December 1998 Requirement 2,500 10,000 (200) 12,300 Y Limited € 4,500 8,000 (4,000) 8,500 Prepare the consolidated statement of comprehensive income for the year ended 31 December 1998.