Proton Ltd and Electron Ltd are both software developers. On 1 August 2022 Proton Ltd acquired control in Electron Ltd by purchasing 108 000 shares in Electron Ltd. Below is an extract from the trial balances of the companies for the year ended on 31 July 2023:
Proton
Ltd
R
Electron
Ltd
R
Credits
Share capital – ordinary shares (200 000 and 180 000 shares respectively) ...........................................................................
400 000
500 000
Retained earnings – 1 August 2022 .......................................
Other components of equity – 1 August 2022 ........................
Long-term loan ......................................................................
Trade and other payables ......................................................
3 600 000
200 000
1 400 000
700 000
3 900 000
150 000
1 100 000
600 000
Loan payable to Proton Ltd ....................................................
-
800 000
Overdraft Horizon Bank .........................................................
-
259 000
Revenue ..............................................................................
6 000 000
4 100 000
Other income .........................................................................
450 000
180 000
12 750 000
11 589 000
Debits
Property, plant, and equipment ..............................................
2 767 200
6 764 400
Investment in debentures……………………………………….
430 000
1 100 000
Investment in Electron Ltd (cost equals fair value) ................
2 800 000
-
Loan receivable from Electron Ltd .........................................
800 000
-
Inventory ..............................................................................
250 000
780 000
Trade and other receivables ..................................................
1 100 000
567 800
ABC Bank…………………………………………………………
369 200
-
Finance charges ....................................................................
200 000
20 000
Cost of sales ..........................................................................
2 080 000
1 200 000
Other expenses .....................................................................
800 000
270 000
Dividends paid .......................................................................
70 000
100 000
Income tax expense ...............................................................
1 083 600
786 800
12 750 000
11 589 000
Additional information
1. On the date of acquisition, the carrying amount of Electron Ltd’s assets and liabilities were deemed equal to the fair value thereof. Each share of Electron Ltd carries one vote and voting rights alone determine control.
It is group policy to show goodwill at cost-less impairment in the consolidated financial statements. Goodwill was not impaired during the current year.
The issued share capital of both companies remained unchanged since the acquisition.
2. Assume that the profit after tax for the current financial year amounts to R2 003 200 for Electron Ltd.
REQUIRED:

Prepare the following statements for the Proton Ltd Group for the year ended 31 July 2023:
(a)
The consolidated statement of profit or loss and other comprehensive income.
(b)
The total assets and total liabilities sections of the consolidated statement of financial position.