Please can you help with this seminar question I think Ive done it wrong.

Q2. Jennings plc At 1 April 2009 Jennings plc had investments in two companies, Ferrars Ltd and Brandon Ltd. Extracts from the draft individual financial statements of the three companies for the year ended 31 March 2010 are shown below: Statements of profit or loss Jennings plc '000s Revenue 67,600 Cost of sales (43,700) Gross profit 23,900 Operating expenses (12,700) Profit from 11,200 operations Investment income 7,300 Profit before tax 18,500 Income tax expense (4,000) Profit after tax 14,500 Ferrars Ltd '000s 56,800 (41,600) 15,200 (5,400) 9,800 Brandon Ltd '000s 42,500 (21,750) 20,750 (13,200) 7,550 9,800 (2,000) 9879 1,000 8,550 (1,700) 7,800 6,850 Statements of changes in equity (extracts) Retained earnings Jennings plc Ferrars Ltd Brandon Ltd '000s f'000s '000s At 1 April 2009 23,800 2,700 10,400 Ordinary dividends paid (2,000) Total comprehensive 14,500 7,800 6,850 income for the year At 31 March 2010 38,300 10,500 15,250 Additional information 1) The issued share capitals of the three companies at 1 April 2009 and number of shares held by Jennings plc were as follows: Issued 1 ordinary shares (millions) 10 8 6 Number of ordinary shares held by Jennings plc (millions) Jennings plc Ferrars Ltd Brandon Ltd 6.4x 4.2 No company has any reserves other than retained earnings. The fair values of the assets and liabilities of both companies at acquisition were the same as their carrying amounts. Jennings plc prefers to measure goodwill and the non-controlling interest using the proportionate method wherever possible. 2) Jennings plc acquired its shares in Ferrars Ltd several years ago for total consideration of 10 million when the retained earnings of Ferrars Ltd were 550,000. 3) Jennings plc acquired its shares in Brandon Ltd on 1 April 2009 when the retained earnings of Brandon Ltd were 10.4million. At 31 March 2010 an impairment loss of 700,000 was identified in respect of goodwill acquired in the business combination with Brandon Ltd and needs to be recognised. 4) During the year Brandon Ltd sold goods to Jennings plc at a mark-up of 20%. The goods cost Brandon Ltd 3 million. Half of these goods were still in Jennings plc's inventories at the year end. Requirements a) Prepare the consolidated statement of profit or loss of Jennings plc for the year ended 31 March 2010. b) Calculate consolidated retained earnings brought forward at 1 April 2009