Balance sheet (unadjusted) as at 30/6/2022 Comprehensive Income Statement (unadjusted) for the financial year ended 30/6/2022 Sovereign Agent Sovereign Agent Assets Income Cash at Bank 2,179,980 873,320 Product Sales 4,972,000 3,141,000 Accounts receivable 761,100 635,000 Less cost of goods sold (2,436,000) (1,696,000) Inventory 424,000 661,400 Gross income from product 2,536,000 1,445,000 Dividends receivable 66,100 Service revenue 316,000 Machines 1,017,600 1,984,300 Gross operating income 2,852,000 377,000 1,822,000 AcDepn Machines (559,680) (793,720) Deferred tax asset 518,900 79,300 Less operating expenses Land 1,272,000 970,000 Management fee expense 67,200 Investment in Agent 2,400,000 All other operational expenses 1,715,264 1,011,557 Loan to Agent 400,000 EBITDA 1,136,736 743,243 Goodwill Accum impairment loss Non operational items Total Assets 8,480,000 4,409,600 Dividend income 115,650 Liabilities Interest income Interest expense 52,000 (142,200) (96,200) Accounts payable 609,000 508,000 Depreciation expenses (167,900) (198,400) Dividends payable 244,200 66,100 Net Profit before tax 994,286 448,643 Other Current liabilities 530,600 165,000 less Income tax expense 298,286 134,593 Bank loan 1,777,200 552,900 NPAT 696,000 314,050 Loan from Sovereign 400,000 Deferred tax liability 231,000 71,900 Total Liabilities 3,392,000 1,763,900 Net Assets 5,088,000 2,645,700 Other Comprehensive Income Gain on bargain purchase Goodwill Impairment expense Total Comprehensive Income 696,000 314,050 Equity Shareholder capital 3,060,000 1,400,000 Retained profits (open bal) 1,221,100 595,300 Instructions: Revaluation surplus recognised on General reserve 501,600 Dividends declared Profit for current period (390,700) 696,000 Total Equity 5,088,000 452,000 (115,650) 314,050 2,645,700 Prepare consolidation entries for the FY ending 30/6/2022. You only need to complete the consolidation journal entries on the 'Worksheet' tab. Consolidation journals will be automatically posted to the Consolidated Worksheet. Financial statements are automatically generated from worksheet.