The following financial statements relates to Barret Bhd, Byson Bhd and Blair Bhd for the year ended 31 December 2020. Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2020 Barret Byson RM'000 RM'000 Blair RM'000 Revenue 8,250 Cost of sales (3,300) 5,325 (2,130) 6,020 (2,709) Gross profit 4,950 3,195 3,311 Other investment income 65 15 85 Administrative costs (2,063) (1,331) (1,806) Other expenses (825) (799) (903) Operating profit 2,128 1,080 687 Finance costs (5) (4) (2) Profit before tax 2,123 1,076 685 Income tax expense (510) (258) (164) Profit for the year 1,613 818 521 Other comprehensive income Revaluation reserve 20 33 Total comprehensive income 1,633 823 554 Retained profit b/f 520 310 110 Dividend paid 200 The following information is relevant: 1. On 1 January 2015, Barret Bhd acquired 100% of equity interests of Byson Bhd by paying cash of RM240,000. As at the acquisition date, the fair value of identifiable net asset of Byson Bhd comprise of share capital at RM125,000 and retained profits of RM100,000. 2. As part of business expansion program, Barret Bhd made a new investment in year 2017 by acquiring another competitor, Blair Bhd. Barret Bhd acquired 80% of the equity interest of Blair Bhd on 30 July 2017 with cost of investment amounted to RM180,000. Barret Bhd uses the 'full goodwill' method for the acquisition. The fair value of non-controlling interest was calculated at RM20,000 at this date. The fair value of identifiable net assets of Blair Bhd at 30 July 2017 reported as follows: RM100,000 for ordinary share and RM85,000 retained profit. 3. An impairment review on the goodwill was undertaken at 31 December 2020 and it found that the goodwill had reduced in value by 20%. 4. On 1 October 2020, Barret Bhd entered into a contract to supply Product AA to a customer at Kuala Lumpur. The selling price totalled to RM6,200,000 and cost of sales at RM2,000,000. The product was successfully delivered to customer at November 2020. However, this transaction was not recorded by accountant of Barret Bhd. 5. Blair Bhd sold an inventory of RM6,000,000 to Barret Bhd during the year. As at the year- end, 20% of the goods are remained in the inventory of Barret Bhd. Mark-up price is 20% above cost. 6. Barret Bhd has the following investment in other companies as the followings: i. 40% investment in Aireasia Sdn Bhd for RM5,000,000 since year 2018. In the financial year ended 31 December 2020, Aireasia Sdn Bhd reported a net income amounting to RM400,000. ii. 45% shareholding in Chemistry Bhd with a cost of RM6,120,000. Chemistry Bhd's net profit in the year 2020 was at RM680,000. 7. In order to reduce the financial commitments, Barret Bhd is decided to dispose 30% of its equity interest in Byson Bhd for a cash consideration of RM900,000 on 2 July 2020. Byson Bhd reported a balance of RM125,000 for share capital and RM310,000 for the retained profit b/f. 8. Profit and losses are deemed accrued evenly throughout the year. Required: i. Analyze the implications of the disposal of shares in Byson Bhd at 2 July 2020. Support your answer by clearly showing the gain or loss on disposal. (7 marks) (CLO2:PLO6:C5) ii. Construct the Consolidated Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2020. Disclose all relevant workings. iii. (23 marks) (CLO2:PLO6:C5) Disclose the amount of group retained profit for the year ended 31 December 2020