Big Company owns all of the issued capital of Small Company. Big Company acquires its 100 percent interest in Small Company on 1 July 2022 for a cost of $2000. All assets are fairly stated at acquisition date. The share capital and reserves of Small Company on the date of acquisition are:

The reconciliation of retained earnings and statements of financial position of Big Company and Small Company, as at 30 June 2023, are as follows:

REQUIRED

Provide the consolidated statement of profit or loss and other comprehensive income, statement of financial position and statement of changes in equity for Big Company and its controlled entity for the year ending 30 June 2023.

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Share capital Retained earnings $ 1 250 750 2 000