EXAMPLE 4 - Statements of Profit or Loss for the year ended 30 September 2014 EXAMPLE 4 1) Bill acquired 70% of Ben on 1 October 2013. Goodwill on acquisition was GH$4m and has been impaired by GH1m during the year. Impairment for the group should be charged to operating expenses. 2) At acquisition Ben's tangibles had a fair value tangibles have a remaining life of 5 years. The depreciation is to be included in operating expenses EXAMPLE 4 3) During the year Ben sold GH5m goods to Bill at a mark-up of 25% on cost. One quarter of those goods are in inventory at the year end. 4) Ben paid a dividend of GH10m during the year which is included in the investment income of Bill. - Required: - Prepare the Consolidated Statement of Profit or Loss for the year to 30 September 2014