Consolidation worksheet for financial year ended 30 June 2021 Chandler Joey Adjustments Consolidated Ltd Ltd Debit Ref Credit Entity $'000 $'000 $'000 $'000 $'000 Sales revenue 4,620 2,840 530 f 6,930 Less cost of goods sold Opening inventories 680 630 Add purchases 3,600 2,120 Less closing inventories 710 440 20 20 Cost of goods sold 3,570 2,310 Gross profit 1,050 530 i 30 1,280 f 530 5,190 g 1,130 ? ? Dividend revenue 88 0 88 Management fee revenue 35 0 35 d Interest revenue 0 9 9 e Depreciation expense 160 125 10 275 Finance costs 181 35 e 9 207 Other expenses 204 49 35 c/d 35 253 Profit before tax 628 330 ? Tax expense 201 97 12 i/g/ 6 304 Profit after tax for the year 427 233 2 Retained earnings 1 July 2020 705 429 337 b/i/l 38 835 Dividends paid (57) (32) j 32 (57) Dividends declared (121) (56) J 56 (121) Retained earnings 30 June 954 574 1,208 2021 Issued capital 800 350 350 b 800 Revaluation surplus 210 0 210 Fair value adjustment 56 b/a 56 Shareholders' equity 1,964 924 ? Assets Cash 78 117 195