Q5. Bow plc acquired 75% of the shares in Tie plc on 1 January 20X1 for f80,000 when the balance of the retained earnings of Tie was 40,000. There was no goodwill. On 10 January 20X1 Bow received a dividend of f3,000 from Tie out of the profits for the year ended 31/12/200. There were no inter-company transactions, other than the dividend. The summarised statements of comprehensive income for the year ended 31/12/20X1 were as follows: Whether the summarized statement of comprehensive income drawn above is correct? If yes why; If no what correction is required? ( 6 marks)