do it in advance accounting

Q#2 P co acquired 70% of the ordinary shares of Sco on that company's incorporation in 2003. The summarized income statements of the two companies for the year ending 31 December 2006 are set out as below. Sales Rs. 150,000 Rs 76,000 Cost of sales 60,000 40,000 Gross profit 90,000 36,000 Administration expense 28.000 16,000 E.B.LT 62.000 20,000 co Sco Taxation E.A.T Reserve brought forward Reserve carried forward Required: Prepare the consolidated income statement. 20.000 42.000 174,000 216,000 4,000 16,000 34,000 50,000