The following information is relevant to the preparation of the group statement of profit or loss and other comprehensive income:

On 1 May 2018, Madiba acquired 60% of the equity interests of Nyerere, a public limited company. The purchase consideration comprised cash of KShs160 million and the fair value of the identifiable net assets acquired was KShs220 million at that date. The fair value of the non-controlling interest (NCI) in Nyerere was KShs90 million on 1 May 2018. Madiba wishes to use the full goodwill method for all acquisitions. The share capital and retained earnings of Nyerere were KShs50 million and KShs130 million respectively and other components of equity were KShs12 million at the date of acquisition. The excess of the fair value of the identifiable net assets at acquisition is due to non-depreciable land. Goodwill has been impairment tested annually and as at 30 April 2019 had reduced in value by 20%. However at 30 April 2020, the impairment of goodwill had reversed and goodwill was valued at KShs4 million above its original value. This upward change in value has already been included in above draft financial statements of Madiba prior to the preparation of the group accounts.