Statement of financial position of Anna Ltd and Peter Ltd at 31/12/2020 as following 

ASSET	Anna ($)	Peter ($)
Non-current assets	200,000	90,000
Depreciation	(60,000)	(20,000)
Investment in Peter Ltd	100,000
Current assets
Inventories	90,000	25,000
Account receivables	75,000	30,000
Current account – Peter Ltd	9,000
Bank	12,000	8,000
Total asset	426,000	133,000
EQUITY AND LIABILITIES
$1 common shares	171,000	35,000
General reserve	15,000	12,000
Revaluation reserve	20,000
Retained earnings	90,000	50,000
Current liabilities
Account payable	120,000	22,000
Taxation payable	10,000	5,000
Current account – Anna Ltd		9,000
Total equity and liabilities	426,000	133,000

Statements of comprehensive income for the year ended 31 December 2020:

	Anna ($)	Peter ($)
Sales	180,000	115,000
Cost of sales	50,000	55,000
Gross profit	130,000	60,000
Expenses	60,000	40,000
Dividends received from Peter	4,000
Profit before tax	74,000	20,000
Income tax expense	18,500	5,000
Surplus on revaluation	24,000
Total comprehensive income	79,500	15,000

Anna Ltd acquired 70% of the shares in Peter Ltd on 1 January 2020 when Peter Ltd’s retained earnings were $28,000 and the balance on Peter’s general reserve was $7,000. The fair value of the non-controlling interest at the date was £30,000. Non-controlling interests are to be measured using Method 2.

Common share of Peter at 31/12/2020 was the same as 1/1/2020.

On 31 December 2020 Anna revalued its non-current assets. The revaluation surplus of £24,000 was credited to the revaluation reserve.

During the year Anna sold Peter goods for $9,000 plus a markup of one-third. Half of these goods were still in inventory at the end of the year. Goodwill suffered an impairment loss of 20%.

Required:

Prepare a consolidated statement of comprehensive income for the year ended 31/12/2020 and a statement of financial position as at that date (mark: 2)