Bryson Limited operates a defined contribution pension plan for its employees. The companys contribution rate to the pension fund is 5% of gross salaries. During the year ended 31 December 2017, gross salaries amounted to €6,000,000. For convenience, a regular amount of €20,000 was transferred monthly into the pension fund by the company, with the balance due being paid by the company in January 2018.

Requirement Calculate the amounts to be included in the statement of profit or loss and other comprehensive income of Bryson Limited for the year ended 31 December 2017 and the statement of financial position as at that date.