Prepare the consolidated statement of profit or loss for Viagem Co for the year ended 30 September 2023?

On 1 January 2023, Viagem Co acquired 90% of the equity share capital of Greca Co in a share exchange in which Viagem Co issued two new shares for every three shares it acquired in Greca Co. Additionally, on 31 December 2023, Viagem Co will pay the shareholders of Greca Co 21.76 per share acquired. Viagem Co's cost of capital is 10% per annum. each respectively. STATEMENTS OF PROFIT OR LOSS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Retained earnings 54,000 35,000 The following information is relevant: (i) At the date of acquisition the fair values of Greca Co's assets were equal to their carrying amounts with the exception of two items: 1 An item of plant had a fair value of 1.8 million above its carrying amount. The remaining life of the plant at the date of acquisition was three years. Depreciation is charged to cost of sales. 2 Greca Co had a contingent liability which Viagem Co estimated to have a fair value of 450,000. This has not changed as at 30 September 2023. Greca Co has not incorporated these fair value changes into its financial statements. (ii) Viagem Co's policy is to value the non-controlling interest at fair value at the date of acquisition. For this purpose, the market value of Greca Co's shares at that date can be deemed to be representative of the fair value of the shares held by the non-controlling interest. (iii) Sales from Viagem Co to Greca Co throughout the year ended 30 September 2023 had consistently been 800,000 per month. Viagem Co made a mark-up on cost of 25% on these sales. Greca Co had 1.5 million of these goods in inventory as at 30 September 2023. (iv) Viagem Co's investment income is a dividend received from its investment in a 40% owned associate which it has held for several years. The associate's profit for the year ended 30 September 2023 was 2 million. (v) Although Greca Co has been profitable since its acquisition by Viagem Co, the market for Greca Co's products has been badly hit in recent months and Viagem Co has calculated that the goodwill has been impaired by 2 million as at 30 September 2023