The following scenario relates to questions $371-375$

On $1$ January $20$X$5,$ Prunier acquired $80\%$ of Sheringham's two million $$1$ ordinary shares. At this date, Sheringham had retained earnings of $$4$ million and a revaluation surplus of $$2$ million. Prunier had retained earnings of $$10$ million and a revaluation surplus of $$5$ million.

The fair value of Sheringham's net assets at acquisition were equal to their carrying amounts with the exception of Sheringham's property which had a fair value of $$800,000$ in excess of its carrying amount and a remaining life of $20$ years.

At $31$ December $20$X$5,$ Prunier and Sheringham both revalued their assets. Prunier's assets increased by a further $$2$ million while Sheringham's increased by $$500,000.$ At this date, Prunier's retained earnings were $$11$ million and Sheringham's were $$3\mathrm{.}5$ million.

$371$ What will the consolidated retained earnings be at $31$ December $20$X$5?$

A $$11,432,000$

B $$10,560,000$

C $$11,368,000$

D $$10,568,000$

KAPLAN PUBLISHING

$111$

FR: FINANCIAL REPORTING

$372$ What will be the other comprehensive income attributable to the parent for the year ended $31$ December $20$X$5?$

$$,000$