Taxi Ltd and Ride Ltd are two entities which provide transport services. Below are the trial

balances of Taxi Ltd and Ride Ltd for the financial year ended $31$ December $2022$:

Taxi Ltd acquired $40\%$ of the ordinary share capital of Ride Ltd on $1$ January $2021$ for

R$185000$ and as a result obtained significant influence over Ride Ltd from $1$ January $2021.$

On this acquisition date, Ride Ltd$\text{'}$s equity was as follows:All Ride Ltd$\text{'}$s assets and liabilities were considered to be fairly valued on $1$ January $2021.$

On $1$ April $2022,$ Taxi Ltd obtained control over Ride Ltd when Taxi Ltd purchased another

$20\%$ of Ride Ltd$\text{'}$s share capital from third party. At this date $(1$ April $2022),$ the fair value

of Taxi Ltd$\text{'}$s previously held equity interest was R$255000.$

All Ride Ltd$\text{'}$s assets and liabilities were considered to be fairly valued on $1$ April $2022$

except for the licences which were considered by the market to be R$20000$ more than

its cost price. The licences are amortised and were considered to have a remaining useful

life of five $(5)$ years at this acquisition date $(1$ April $2022).$

On $1$ June $2022,$ Taxi Ltd sold a vehicle to Ride Ltd for R$120000.$ The profit on the sale

of the vehicle amounted to R$36000($included as part of 'other income'$)$ and on that date

the vehicle had a remaining useful life of four $(4)$ years.

Ride Ltd declared and paid dividends on $31$ December $2022.$ Dividend income earned

by Taxi Ltd have been included as part of 'other income'.

Other additional information:

Taxi Ltd recognised the investment in Ride Ltd at cost under IAS$27\mathrm{.}10($a$),$ in its

separate financial statements.

Both Taxi Ltd and Ride Ltd have $31$ December financial year ends.

Taxi Ltd elected to measure the non$-$controlling interest at its proportionate share

of the fair value of the Ride Ltd$\text{'}$s identifiable net assets.

The income and expenses of Ride Ltd was earned$/$incurred evenly throughout the

year.

The Income Tax rate is $28\%$ and $80\%$ of capital gains are included in taxable

income.

Ignore Value Added Tax $($VAT$)$ and Dividends Tax.REQUIRED:

Prepare the Consolidated Statement of Comprehensive Income of the Taxi Ltd Group for

the financial year ended $31$ December $2022.$

Show and reference all workings clearly.

Comparative figures are not required.