Pepper bought 70% of Salt on 1 July 20X6. The following are the statements of profit or loss of Pepper and Salt for the year ended 31 March 20X7: Pepper Salt $000 $000 Revenue 31,200 10,400 Cost of sales (17,800) (5,600) Gross profit 13,400 4,800 Operating expenses (8,500) (3,200) Profit from operations 4,900 1,600 Investment income 2,000 Profit before tax 6,900 1,600 Income tax expense (2,100) (500) Profit for the year 4,800 1,100 The following information is available: (i) On 1 July 20X6, an item of plant in the books of Salt had a fair value of $5,000 in excess of its carrying amount. At this time, the plant had a remaining life of 10 years. Depreciation is charged to cost of sales. (ii) During the post-acquisition period Salt sold goods to Pepper for $4,400. Of this amount, $500 was included in the inventory of Pepper at the year-end. Salt earns a 35% margin on its sales. (iii) Goodwill amounting to $800 arose on the acquisition of Salt, which had been measured using the fair value method. Goodwill is to be impaired by 10% at the year-end. Impairment losses should be charged to operating expenses. (iv) Salt paid a dividend of $500 on 1 January 20X7. Required: Prepare the consolidated statement of profit or loss for the year ended 31 March 20X7 for the Pepper group.