Question Four X holds shares in Y. On 1 April 2015 X purchased 600,000 shares in Y at a cost of R1.60 per share. The fair value of Ys tangible assets at 1 April 2015 was R126,000 more than book value. The retained profits of Y at 1 April 2015 were R120,000. The excess of fair value over book value was attributed to buildings held by Y. At 1 April 2015 the buildings had an estimated remaining useful life of 21 years. The draft summarised financial statements for the two entities as at 31 March 2019 are given below:

Summarised statement of financial position at 31 March 2019 Summarised statement of comprehensive income for the year ended 31 March 2019 Additional information: (i) Y paid an interim dividend of R50,000 on 31 December 2018 (ii) Y sent a cheque for 20,000 to X on 30 March 2019 (iii) X occasionally trades with Y. In November 2018X sold Y goods for R90,000. X uses a mark- up of 50% on cost. On 31 March 2019Y had not paid for the goods and they were all still in Y's closing inventory. Required Prepare a consolidated, summarised statement of comprehensive income for the year ended 31 March 2019 and a consolidated statement of financial position for the X group of entities as at 31 March 2019. Summarised statement of financial position at 31 March 2019 Summarised statement of comprehensive income for the year ended 31 March 2019 Additional information: (i) Y paid an interim dividend of R50,000 on 31 December 2018 (ii) Y sent a cheque for 20,000 to X on 30 March 2019 (iii) X occasionally trades with Y. In November 2018X sold Y goods for R90,000. X uses a mark- up of 50% on cost. On 31 March 2019Y had not paid for the goods and they were all still in Y's closing inventory. Required Prepare a consolidated, summarised statement of comprehensive income for the year ended 31 March 2019 and a consolidated statement of financial position for the X group of entities as at 31 March 2019