P Co acquired the voting shares of Silver Co and Amber Co, details as follows: Income Statement and partial Statement of Changes in Equity for the year ended 31 December 20x6 P Co Silver Co Amber Co Profit before tax 3,000,000 2,000,000 900,000 Tax (600,000) (400,000) (200,000) Profit after tax 2,400,000 1,600,000 700,000 Dividends declared (220,000) (100,000) (90,000) Profit retained 2,180,000 1,500,000 610,000 Retained earnings, 1 Jan 20x6 5,500,000 1,600,000 720,000 Retained earnings, 31 Dec 20x6 7,680,000 3,100,000 1,330,000 Abridged Statement of Financial Position as at 31 December 20x6 P Co Silver Co Amber Co Investment in Silver Co Investment in Amber Co Other net assets Share capital Retained earnings Other comprehensive income 3,200,000 1,100,000 5,880,000 4,100,000 2,050,000 10,180,000 4,100,000 2,050,000 2,500,000 1,000,000 500,000 7,680,000 3,100,000 1,330,000 220,000 10,180,000 4,100,000 2,050,000