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Statement of profit or loss for the year ended 31 December, 2021 Addition Information; i. Chibeti acquired 80% of Chushi on 1 January 2021 .

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Statement of profit or loss for the year ended 31 December, 2021 Addition Information; i. Chibeti acquired 80% of Chushi on 1 January 2021 . Goodwill on acquisition has been impaired by K1m during the year and should be charged to operating expenses. Full goodwill method. ii. During the year Chushi sold K10m goods to Chibeti at a mark-up of 25% on cost. One quarter of those goods are in inventory at the year end. Required; Prepare Chibeti Group consolidated statement of profit or loss for the year to 31 December 2021 . (10 marks)

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