On tion 4 4,5,6, Thursday 1 January 2015, Star Ltd acquired 75% of the ordinary shares of Shine Ltd in Hong Kong to form Star-Shine Group (SSG). At that date the balance on the retained earnings of Shine Ltd was Hong Kong Dollars (HK$) 1,700,000. The non-controlling interest in Shine was measured as the proportionate share of the net assets of the subsidiary. No shares have been issued by Shine since acquisition. The summarised income statements and balance sheets of Star Ltd and Shine Ltd as at 31 December 2019 were as follows: Income Statement for the year ended 31 December 2019 Star GB Sales Opening inventories Purchases Closing inventories 142000 754 Shine HK$ 37,422,000 9,504,000 96000 4,158,000 1,259,280 20,790,000 5,346,000 Cost of sales Gross profit Depreciation Other expenses 45,000 1,485,000 1,021,680 23,463,000 5,583,600 2010000 13,959,000 3,920,400 2 2,376,000 712,80 Interest paid 629,640 237,60 415,800 118,8 Total expenses 3,421,440 1,069, Profit before tax Tutorial 10,537,560 2,851 Taxation 5 2,673,000 71 Profit after tax 7,864,560 2,13 000 Balance Sheet as on 31 December 2019 Paren Star GBE