The income statements for Piranha Ltd, Salmon Ltd and Anchovy Ltd for the year ended 31 December 2022 are given as follows: Piranha Ltd Salmon Ltd Anchovy Ltd '000 '000 '000 Sales 7,000 3,500 2,500 Cost of sales -2,700 -1,200 -1,000 Gross profit 4,300 2,300 1,500 Dividend Income 150 Administration costs -420 -310 -150 Distribution costs -210 -430 -80 Operating profit 3,820 1,560 1,270 Tax Interest receivable Interest payable Profit before tax Profit after tax Dividends Paid Profit for the year 110 -30 -50 3,900 1,510 1,270 -250 -150 -50 3,650 1,360 1,220 -400 -100 -130 3,250 1,260 1,090 Retained profit brought forward Retained profit carried forward 2,700 1,180 900 5,950 2,440 1,990 Piranha Ltd acquired 60% of Salmon Ltd on 1 January 2013 for 400,000 when Salmon's Share Capital and Reserves were 240,000. The share capital of Salmon Ltd totals 80,000. Interest payable by Salmon Ltd is in respect of a Loan Stock issue of which 80% was acquired by Piranha Ltd. Piranha Ltd acquired 30% of Anchovy Ltd for 400,000 when Anchovy Ltd's share capital and reserves were 150,000 on 1 January 2015. The share capital of Anchovy Ltd is 60,000 of 50p shares. During the year Salmon Ltd sold goods costing 10,000 to Piranha Ltd for 30,000. 20% of this inventory is included in Piranha Ltd's inventory at the year-end. During the year Anchovy Ltd sold goods costing 10,000 to Piranha Ltd for 16,000. 50% of this inventory is still in Piranha Ltd's inventory at the year-end. Impairment of 50% of the value of the goodwill of Salmon Ltd was seen in 2020 and impairment of 20% of the value of Anchovy Ltd is seen in 2022. At the year-end Piranha Ltd charges both Salmon Ltd and Anchovy Ltd a management fee of 5% of turnover. None of these companies have accounted for this management fee. Required: Prepare the consolidated income statement for the Piranha Ltd group for the year ended 31 December 2022. (100 Points = 20 marks) 1