[IESTION 3 CONSOLEATIDNS The following nancial statements of Joel Ltd and its subsidiary Parko Ltd have been extracted from their nancial records at 30 June 2012. Joel Ltd Parka Ltd 3 thousands $ thousands Rscomilon ofapening mid closing retained earnings Sales revenue 631.40 540.00 Cost ofgoods sold 464.00! {238.00 [ Gross prot 202.40 302.00 Dividends received from Parko Ltd 93.00 Management fee revenue 26.50 Gain on sale of plant 40.00 35.00 Expenses Administrative expenses (30.30) (38.30) Depreciation {29.50) (5 6.80) Management fee expense (26.50) Other expenses 101.10! 32.00! Prot before tax 205.50 143.00 Tax expense M w Prot for the year 144.00 100.30 Retained earnings 30 June 2011 319.40 239.20 463.40 340.00 Dividends paid (132.40) (93.00) Retained earnings 30 June 2012 326.00 241.00 m afnmdal parieu Smmrx' em Retained earnings Share capital CW Heb um Amntmte payable Tax payable Ann-cm Imbmrm Lanna CW assets Ammte receiwhle Inventory Men-cm msm Land and building Plant - at cant Accumulated depreciation Invenmeut in Perla: Ltd