Required:

(i) Prepare the consolidated statement of comprehensive income for the North Group for the year ended 31 March 2020, in accordance with International Financial Reporting Standards.

(ii) Prepare the consolidated statement of financial position of the North Group as at 31 March 2020, in accordance with International Financial Reporting Standards. You should also include a summary to show the movements in the groups retained earnings for the year ended 31 March 2020.

Group Accounts - North, East & West The following information has been extracted from the draft financial statements of North plc and its subsidiaries for the year ended 31 March 2020. Draft statements of financial position at 31 March 2020 East pic North pic West pic ASSETS Non-current assets Land and buildings Machinery and equipment Investments in East plc and West plc at cost 1,050,000 590.800 940,000 605,000 670,000 286,300 1,800,000 3,440,800 1,545,000 956,300 Current assets Inventories 300.350 85,400 305.000 29,200 Trade receivables Current accounts: East plc and West plc Cash at bank Total assets 196,600 179,570 319,580 50.210 4,186,760 75,630 2,225,980 36,300 1,107,200 EQUITY AND LIABILITIES Equity Ordinary 1 shares Retained eamings Revaluation reserve 2,700.000 946,560 500,000 279,880 1,300,000 632,300 125,000 2,057,300 3,646,560 779,880 445,000 Current liabilities Trade payables Current accounts: North plc Other payables Total equity and liabilities 40.600 49,580 78,500 2,225,980 95,200 109,600 185,000 32,720 1,107,200 4,186,760 Draft statements of comprehensive income for the year ended 31 March 2020 North pic f Revenue Cost of sales Grass profit Operating expenses Profit before tax Tax expense Profit for the year 2,383,770 1,532,440 851.330 468.900 East plc f 1.824.750 979,960 844.790 603,420 241,370 48,000 193,370 West pic f 581,970 389,180 192.790 102.960 89,830 382.430 76,000 18.000 71,830 306.430 Extract from draft statement of changes in retained earnings for the year ended 31 March 2020 North pic East plc West plc f f f Balance at 1 April 2019 640,130 438,930 208.05C Profit for the year 306,430 193 370 71,836 Balance at 31 March 2020 946,560 632.300 279.880 The following information is also available: 1) On 1 April 2019 North plc acquired 975,000 ordinary shares in East plc for 1,200,000. At that date the retained earnings and revaluation reserve in East plc amounted to 438,930 and 125,000 respectively. There have been no changes in East plc's ordinary shares since that date. 2) North plc acquired 450,000 ordinary shares in West plc on 1 April 2017 when the retained earnings in West plc amounted to 64,380. There have been no changes in West plc's ordinary shares since then. 3) On 30 March 2020 East plc sent a cheque for 85,000 to North plc. The cheque was received by North plc and recorded in its accounting records on 4 April 2020. 4) During the year ended 31 March 2020, total sales made by West plc to North plc amounted to 480,000. West plc prices its goods at cost plus a mark-up of 30% At the year end, North plc's closing inventory included goods purchased from West plc for 65,000 5) At 31 March 2019, the cumulative amount previously written off due to impairment of goodwill arising on the acquisition of West plc amounted to 21,058. There has been no additional impairment of goodwill during the year ended 31 March 2020. Group Accounts - North, East & West The following information has been extracted from the draft financial statements of North plc and its subsidiaries for the year ended 31 March 2020. Draft statements of financial position at 31 March 2020 East pic North pic West pic ASSETS Non-current assets Land and buildings Machinery and equipment Investments in East plc and West plc at cost 1,050,000 590.800 940,000 605,000 670,000 286,300 1,800,000 3,440,800 1,545,000 956,300 Current assets Inventories 300.350 85,400 305.000 29,200 Trade receivables Current accounts: East plc and West plc Cash at bank Total assets 196,600 179,570 319,580 50.210 4,186,760 75,630 2,225,980 36,300 1,107,200 EQUITY AND LIABILITIES Equity Ordinary 1 shares Retained eamings Revaluation reserve 2,700.000 946,560 500,000 279,880 1,300,000 632,300 125,000 2,057,300 3,646,560 779,880 445,000 Current liabilities Trade payables Current accounts: North plc Other payables Total equity and liabilities 40.600 49,580 78,500 2,225,980 95,200 109,600 185,000 32,720 1,107,200 4,186,760 Draft statements of comprehensive income for the year ended 31 March 2020 North pic f Revenue Cost of sales Grass profit Operating expenses Profit before tax Tax expense Profit for the year 2,383,770 1,532,440 851.330 468.900 East plc f 1.824.750 979,960 844.790 603,420 241,370 48,000 193,370 West pic f 581,970 389,180 192.790 102.960 89,830 382.430 76,000 18.000 71,830 306.430 Extract from draft statement of changes in retained earnings for the year ended 31 March 2020 North pic East plc West plc f f f Balance at 1 April 2019 640,130 438,930 208.05C Profit for the year 306,430 193 370 71,836 Balance at 31 March 2020 946,560 632.300 279.880 The following information is also available: 1) On 1 April 2019 North plc acquired 975,000 ordinary shares in East plc for 1,200,000. At that date the retained earnings and revaluation reserve in East plc amounted to 438,930 and 125,000 respectively. There have been no changes in East plc's ordinary shares since that date. 2) North plc acquired 450,000 ordinary shares in West plc on 1 April 2017 when the retained earnings in West plc amounted to 64,380. There have been no changes in West plc's ordinary shares since then. 3) On 30 March 2020 East plc sent a cheque for 85,000 to North plc. The cheque was received by North plc and recorded in its accounting records on 4 April 2020. 4) During the year ended 31 March 2020, total sales made by West plc to North plc amounted to 480,000. West plc prices its goods at cost plus a mark-up of 30% At the year end, North plc's closing inventory included goods purchased from West plc for 65,000 5) At 31 March 2019, the cumulative amount previously written off due to impairment of goodwill arising on the acquisition of West plc amounted to 21,058. There has been no additional impairment of goodwill during the year ended 31 March 2020