P bought 80% of the ordinary share capital in S on the 1st October 2015 for 648,000 At the date of purchase the profit and loss reserve of S Ltd was 360,000. The summarised financial statements of both companies as at 30th September 2017 are as follows: P plc plc f 'se 540,000+ Fixed Assets Cost of investment in S Current assets Current liabilities 720,000 648,000 740,000 (200,000200,000 1,908,000 1,080,000 740,000 Share capital (Ordinary Shares of 1) Retained Earnings 1,080,000 360,000 828,000 720,000 1908,000 1080,000, Profit before tax 252,000+ 306,000 90,000 72,000 216,000 ax Profit for the year 180,000 Assume that profits accrue evenly through the year, and that no dividends have been paid Prepare the consolidated profit and loss statement forthe P group as at 30th September 2017, assuming that P sells its entire holdings in S for 1,300,000 on the 30th September 2017, Assume no impairment for goodwill or other assets,d