The draft statements of profit or loss and other comprehensive income for the year ended 31 December 2020 are given below: Ollivander's Gregorovitch's 000 000 Beauvais 000 Revenue 10,000 8,000 4,500 Cost of sales (3,000) (2,800) (2,000) Gross profit 7,000 5,200 2,500 Investment income 1,100 Other Income 150 Administration costs (700) (250) (160) Distribution costs (200) (600) (100) Interest payable (50) (40) Profit before tax 7,200 4,450 2,200 Tax (2,000) (300) (500) Profit after tax 5,200 4,150 1,700 In addition to the above, the following notes are made: 1. Ollivander's plc acquired 75% of the ordinary share capital of Gregorovitch's plc on 1 January 2011 for 5,000,000. The statement of financial position of Gregorovitch's on 1 January 2011 showed: retained earnings 1,000,000 and 1 ordinary share capital 1,000,000. 2. 2. Ollivander's plc acquired 30% of the ordinary share capital of Beauvais plc on 1 January 2012 for 500,000. The statement of financial position of Beauvais on 1 January 2012 showed: retained earnings 800,000 and 0.50 ordinary share capital 200,000. 3. On 1 January 2020, Gregorovitch's sells furniture (PPE) to Ollivander's for 150,000. The cost of the furniture was 100,000 and it had a net book value of 60,000 on the date of sale. The profit or loss on disposal on this sale is included as other income and depreciation is included in administration costs. All companies charge 20% straight line depreciation. 4. During the year goods with an original cost of 500,000 were sold by Gregorovitch's to Ollivander's for 800,000. 25% of these goods are in Ollivander's's stock at the year end.