The statements of profit or loss and other comprehensive income of P Limited and its subsidiaries, S Limited and T Limited, for the year ending 31 December 2017 are as follows

Additional Information: .
1. P Limited owns 80% of the ordinary shares of S Limited and 75% of the ordinary shares of T Limited. With respect to the measurement of non-controlling interests at the date of acquisition, the proportionate share method equated to the fair value method.
2. At the date of acquisition of the shares by P Limited, the balances of retained earnings were:
(i) S Limited €4,500 credit; and (ii) T Limited €1,830 debit.
3. Included in P Limited’s profit is €15,000 from sale of goods to S Limited. Of these goods, § Limited still has in inventory on 31 December 2017 goods invoiced at €3,000.
All goods sold by P Limited produce a profit of 25% on the selling price, 4. During the year ended 31 December 2017, P Limited, S Limited and T Limited paid dividends of €60,000, €24,000 and €18,000 respectively.
5. Retained earnings at 31 December 2016 were as follows:

Requirement Prepare the consolidated statement of profit or loss and other comprehensive income of P Limited for the year ending 31 December 2017 in a form suitable for publication.

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Profit before items set out hereunder Income from quoted investment Dividends receivable From S Limited P Limited 298,500 S Limited 120,000 1,500 T Limited 90,000 1,200 19,200 From T Limited 13,500 332,400 121,500 90,000 Administrative expenses (45,000) (16,500) (21,000) Profit before tax 287,400) 105,000 69,000 Income tax expense Profit after taxation 105,000 48,000 30,000 182,400 57,000 39,000