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 6,930 Less cost of goods sold Opening inventories 680 630 Add purchases 3,600 2,120 f 30 530 1,280 5,190 Less closing inventories 710 440 20 g 1,130 Cost of goods sold 3,570 2,310 ? Gross profit 1,050 530 ? 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 12 i/g/1 6 304 Profit after tax for the year 427 233 ? 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) 1,208 Retained earnings 30 June 954 574 2021 Issued capital Revaluation surplus 800 350 350 b 210 0 800 210 Fair value adjustment 55 56 b/a 56 ? Shareholders' equity 1,964 924