Below are the Extracts from the financial statements of Alpha plc, its subsidiary Beta plc and associate Gamma plc at 31 December 2019. Alpha, Beta and Gamma are public limited companies. Alpha plc Beta plc Gamma plc $000 $000 $000 Revenue 3,600 870 450 Cost of sales (2,430) (330) (240) Gross profit 1,170 540 210 Operating expenses (300) (120) (60) 870 420 150 Investment income 150 - - Finance costs (135) (30) (15) Profit before tax 885 390 135 Income tax expense (240) (90) (45) Profit for the year 645 300 90 Other comprehensive income: Revaluation of property 180 60 30 Total comprehensive income 825 360 120 Statements of changes in equity for the year ended 31 December 2019 $000 $000 $000 Equity at 1 January 2019 5,100 2,520 1,500 Total comprehensive income for the year 825 360 120 Dividends (300) (150) - Equity at 31 December 2019 5,625 2,730 1,620 Page 3 of 8 Additional information: 1 Alpha plc acquired 80 per cent of the ordinary share capital of Beta plc for $1,860,000 on 1 January 2016 when the retained reserves of Beta plc were $1,260,000. Beta plc has 600,000 $1 ordinary shares in issue and there have been no share issues since the acquisition date. The group policy is to measure the non-controlling interest at fair value at the date of acquisition. The fair value of the non-controlling interest at 1 January 2016 was $540,000. 2 On 1 January 2016, the fair value of Beta plc's net assets was the same as their book value with the exception of depreciable property, the fair value of which was $180,000 higher than its book value. The property had a remaining useful life of 15 years at the date of acquisition. Depreciation on property is charged to cost of sales. 3 Goodwill on the acquisition of Beta plc was impaired for the first time by 25 per cent in the year to 31 December 2018. An impairment review conducted at 31 December 2019 indicated a further impairment of 10 per cent of the remaining carrying value of goodwill. Impairment losses on goodwill are charged to group operating expenses. 4 Alpha plc acquired 40 per cent of the ordinary share capital of Gamma plc on 1 July 2017, when the equity was $1,305,000. REQUIRED (a) Prepare for the Alpha plc Group for the year ended 31 December 2019: (i) a consolidated statement of profit or loss and other comprehensive [20 Marks] (ii) a consolidated statement of changes in equity.