QUESTION ordinary shares in Tiny Limited on 1 not plc acquired 80% of the 80.000. Acquisitive does December when Tiny's Retained Profits were 2010 Preference Shares in Tiny. The fair value of the property owned by Tiny was 6,000 higher than its Net Book Value. No adjustment has been made so far for this revaluation. During the year ended 31 December 2014, Aquisitive plc transferred Tiny to Limited goods costing 40,000 and a sales value of 48,000. 25% of these goods were unsold and still in inventory as at 31 December 2014. STATEMENTS OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2014 Tiny Ltd Aquisitive Ltd 646,000 5,250,000 404,000 Revenues 4,406,000 Cost of Sales 242,000 844,000 Gross Profit 12,000 24,120 Distribution Expenses 140,000 3,000 Administration Expenses 90,000 546,880 Profit before Taxation 34,000 190,000 Taxation 56,000 356,880 Profit after Taxation 200,000 Dividend paid 56,000 156,880 Retained Profit for the year 128,000 Retained Profit at beginning of year 918,720 184,000 1,075,600 Retained Profit at end of year