Question 1 (10 marks) Gold Ltd holds 90% ownership equity of Red Ltd. Red Ltd holds 75% ofthe ownership equity of Black Ltd and holds 80% ofthe ownership equity of Sapphire Ltd. During the year the following dividends are paid by the respective companies: Gold Ltd $ 200,000 Red Ltd $ 110,000 Black Ltd $ 80,000 Sapphire Ltd $ 65,000 Required: Calculate the amount ofdividend payments that would be shown in the consolidated financial statements. Question 2 (10 marks) The consolidated prot and loss ofthe Mars Group of companies is shown below. Mars Group Consolidated Profit & Loss Statement for the year ended 30 June 2015 Revenues: $ Sales revenue 385,000 Rental income 160,000 Interest revenue 28,000 Other 35,000 Total revenues 608,000 Expenses: Borrowing costs 40 000 Cost of sales 175,000 Doubtful debts expense 22 000 Depreciation expense 57,000 Other 95 000 389,000 Net profit 219,000