Question 2: 7 On 1 January 2019 Jui Ltd. acquired 60% of the ordinary shares of Rose Ltd. The following income statements have been produced by Jui and Rose for the year ended 31st December, 2019. Jui Ltd $000 1260 Rose $000 520 Particulars Sales revenue Less: Cost of sales and expenses Gross profit Distribution costs Administration expenses Profit from operations Investment income: Dividend received from Xavier Profit before tax Less:Income taxes Profit after tax 420 840 180 120 540 210 310 60 90 160 36 576 130 446 160 26 134 During the year ended 31st December 2019 Jui had sold $84,000 worth of goods to Rose. These Inventories had costs Jui $56,000. On 31st December 2019 Jui Ltd still had $36000 worth of these goods in inventories (held at costs to Rose ltd). Prepare the consolidated income statement to incorporate Jui and Rose for the year ended 31st December 2019