3 Given below are the statements of profit or loss and other comprehensive income of Golden Bhd, Brownish Bhd and Greyish Bhd for the year ended 30 June 2019. Sales Statement of Profit or Loss and Other Comprehensive Income for the year ended 30 June 2019 Golden Bhd RM '000 209,000 RM '000 Brownish Bhd Greyish Bhd RM '000 55,000 Cost of Sales (139,000) (25,000) 44,000 (23,000) Gross profit 70,000 30,000 21,000 Dividend income 560 Income from quoted 290 investments Other income 100 Operating expenses (7,000) (4,800) (4,100) Finance costs (3,800) (2,500) (2,200) Profit before taxation 60,050 22,800 14,700 Taxation (14,420) (6,000) (2,500) Profit after taxation 45,630 16,800 12,200 Other comprehensive income Revaluation surplus 400 150 500 Total comprehensive income 46,030 16,950 12,700 Ordinary dividend payable 1,000 700 100 Retained profit brought 160,000 65,000 25,000 forward Additional information: 1. Golden Bhd acquired 70% of the 70 million issued ordinary shares of Brownish Bhd on 1 July 2015 for RM55 million. On this date, the retained profit of Brownish Bhd was RM10 million. 2. As the business is expanding, Golden Bhd acquired another company, Greyish Bhd on 1 July 2017. A total of 7 million out of the 10 million issued ordinary shares of Greyish Bhd was acquired at a cost of RM15 million. At that date, the retained profit of Greyish Bhd was RM12 million. 3. During the year, Golden Bhd sold goods to Greyish Bhd for RM5 million. Another RM1.5 million of the goods are remained in the inventory of Greyish Bhd at the end of the year. All sales are invoiced at a profit of 20% on sales. 4. Golden Bhd also found to have an interest of 25% in another company, Skinny Bhd since 1 July 2018. Skinny Bhd reported a profit after tax in the year ended 2019 amounting to RM 5 million. 5. Dividend income of Golden Bhd was received from its investee, Brownish Bhd and Greyish Bhd. 6. All expenses and revenue are deemed to accrue evenly throughout the year. 7. Policy of the group is to measure non-controlling interests at their proportionate interest in the value of the net assets of the subsidiary. Required: a. Prepare the Consolidated Statement of Profit or Loss and Other Comprehensive Income for the year ended 30 June 2019. b. Determine the group retained profit balance as at 30 June 2019. (24 marks) (6 marks)