P8.3 & P8.4 THANKYOU~~~~~~~~~~~~P8.3 & P8.4 THANKYOU~~~~~~~~~~~~P8.3 & P8.4 THANKYOU~~~~~~~~~~~~P8.3 & P8.4 THANKYOU~~~~~~~~~~~~P8.3 & P8.4 THANKYOU~~~~~~~~~~~~P8.3 & P8.4 THANKYOU~~~~~~~~~~~~P8.3 & P8.4 THANKYOU~~~~~~~~~~~~P8.3 & P8.4 THANKYOU~~~~~~~~~~~~P8.3 & P8.4 THANKYOU~~~~~~~~~~~~

On 31 December 20x1. Major Corporation. whose M w PM W? is '- doiiar, acquired Minor Company, which 013ch in country 3!: m m purchasing the entire share capital at book -.value Minork nmetal .. % le 31 December 20x2 and 20:3 are shown below. M I N (.3 R ('20 M P is N '5' income Sntaterm.-ms For the Years Ended '31 December 20x2 and 0x3 ..................................................... ....................................... Gross prot ............................................... Less: Depreciation expense .................................. (22,500) Amortization expense .................................. (6,000) . Operating expenses .................................... 138,000) 152,300) Insurance expense ..................................... (800) {3.20%.- (167,300) ' ' Operating profit before tax .............................. -. . 62,700 Taxation .................................................. (12,700) Prot after tax . . . .l ........................................ 50,000 Dividends paid ........................................... (25,000) Retained earnings, 1 January ............................. 25,000 Retained earnings, 31 December ......................... 50,000 MINOR COMPANY Statements of Financial Position As at 31 December 20x2 and 20x3 20:: FC Fixed assets (net) ......................................... 207,500 Patent ............................... . . ................... 54,000 Current assets: inventories.............................................- Prepaid insurance ...................................... Accounts receivable ...................... . ....... . ........ Cash ............... ......... ..... fie?\"