Company P has an 80% interest in Company S and a 40% investment in Company A.

Statement of profit and loss and other comprehensive income for the year ended 30 June 2015.

	P 000	S 000	A 000
Revenue	300	150	80
Cost of sales	(170)	(100)	(40)
Gross profit	150	50	40
Other income	50	10	-
Operating expenses	(110)	(40)	(15)
Profit from operations	70	20	25
Tax	30	6	8
Profit for the year	40	14	17

Additional Information:

1) During the year ended 30 June 20X5 P sold goods costing 280 000 to S at a margin of 20%. All of these goods had been sold by the year end.

2) A sold goods to P for 233 000 during the year. The were sold at a mark up of 10%. P has 75% of these goods in inventory at the year end.

3) S paid dividends of 50 000 during the year. P includes dividends received within other income.

4) Goodwill was calculated as 70 000 on acquisition. The full goodwill method was used. At the year end directors believe goodwill is impaired by 10 000 due to a new competitor in the market.

Required: Prepare a statement of profit and loss and other comprehensive income for the year ended 30 June 2015 for the P group.

Note: Please use the below template when answering this question.

Pro Forma Statement of comprehensive income.

Revenue	Workings	Insert units here eg 000
Cost of sales
Gross profit
Other income
Distribution costs
Admin Expenses
Other operating expenses
Other operating income
Profit from operating activities
Investment income
Finance costs
Profit before tax
Income tax expense
Profit / loss for the year from discontinued operations
Profit / loss for the year
Other comprehensive income:
Gains on property revaluation
Actuarial gains / losses on defined pension plans
Tax relating to component of other comprehensive income
Total other comprehensive income
Total comprehensive income for the year