The statements of financial position and comprehensive income Point Bhd and its group of companies is given below: Statements of Financial Position at 31 December 2022 Seatome nits af Chnarehensive lnceme for vear to 31 Dectentixt 2022 Statcmeats of Chaneses in Retalined Faralnets for the year eaded 31 December 2022 The following information is also available: i)Point Bhd acquired 70% of the ordinary shares in Sharp Bhd on 1 January 2021 for RM500,000 when the accumulated profits of Sharp Bhd was RM150,000. There have been no changes in Sharp Bhd's ordinary shares since then. Point Bhd had also acquired 10% of the Preference shares in Sharp Bhd for RM9,000 on 1 January 2022. ii) At the date of acquisition, Sharp's plant and machinery had a fair value of RM100,000 higher than its book value. This revaluation has not been reflected in the books of Sharp. At the date of acquisition, plant and machinery had an estimated life of 5 years. iii) Point Bhd acquired 40% of the ordinary shares in Blade Bhd on 1 January 2022 for RM250,000 when the retained profits of Blade Bhd was RM200,000. iv) During 2022, Sharp Bhd sold inventories to Point Bhd at invoice value of RM150,000. The goods cost RM90,000 and 10% of these goods were still in the inventory of Point Bhd at 31 st December 2022. v) On 1st December 2022, Blade Bhd sold inventories to Point Bhd at invoice value of RM40,000. The goods were sold at a margin of 20% and 40% of these goods were still in the inventory of Point Bhd at 31 st December 2022 vi) On 28 December 2022 Blade Bhd sent a cheque for RM50,000 to Point Bhd. The cheque was recorded in the books of Point Bhd on 5 January 2023. vii) The goodwill arising on consolidation on Sharp Bhd bad been impaired by RM6,000 up to 31 December 2021, with a further impairment of RM7,000 in the current year ended 31 December 2022 . viii) On 31 December 2022, the directors of Point Bhd proposed a divivend of 15 cents per shares. Sharp Bhd and Blade Bhd had paid an ordinary dividend of 10 cents per share on 3 December 2022. On 31 December 2022 Sharp Bhd paid a dividend of 7% on its redeemable preference shares. ix) The preference shares of Sharp Bhd are non-redeemable and a dividend of 7% was paid on 30 December 2022 x) It is group policy to value the non-controlling interest using the proportion of net assets method xi)All revenues and expenses are expected to acerue evenly throughout the year. Required: a) Prepare a consolidated statement of comprehensive income for Point Bhd and its group 8) Changes in Group Retained Earnings AM AM Balance c/d Point 385000 Sharp Group profit Dividend 90000 Balance b/d The statements of financial position and comprehensive income Point Bhd and its group of companies is given below: Statements of Financial Position at 31 December 2022 Seatome nits af Chnarehensive lnceme for vear to 31 Dectentixt 2022 Statcmeats of Chaneses in Retalined Faralnets for the year eaded 31 December 2022 The following information is also available: i)Point Bhd acquired 70% of the ordinary shares in Sharp Bhd on 1 January 2021 for RM500,000 when the accumulated profits of Sharp Bhd was RM150,000. There have been no changes in Sharp Bhd's ordinary shares since then. Point Bhd had also acquired 10% of the Preference shares in Sharp Bhd for RM9,000 on 1 January 2022. ii) At the date of acquisition, Sharp's plant and machinery had a fair value of RM100,000 higher than its book value. This revaluation has not been reflected in the books of Sharp. At the date of acquisition, plant and machinery had an estimated life of 5 years. iii) Point Bhd acquired 40% of the ordinary shares in Blade Bhd on 1 January 2022 for RM250,000 when the retained profits of Blade Bhd was RM200,000. iv) During 2022, Sharp Bhd sold inventories to Point Bhd at invoice value of RM150,000. The goods cost RM90,000 and 10% of these goods were still in the inventory of Point Bhd at 31 st December 2022. v) On 1st December 2022, Blade Bhd sold inventories to Point Bhd at invoice value of RM40,000. The goods were sold at a margin of 20% and 40% of these goods were still in the inventory of Point Bhd at 31 st December 2022 vi) On 28 December 2022 Blade Bhd sent a cheque for RM50,000 to Point Bhd. The cheque was recorded in the books of Point Bhd on 5 January 2023. vii) The goodwill arising on consolidation on Sharp Bhd bad been impaired by RM6,000 up to 31 December 2021, with a further impairment of RM7,000 in the current year ended 31 December 2022 . viii) On 31 December 2022, the directors of Point Bhd proposed a divivend of 15 cents per shares. Sharp Bhd and Blade Bhd had paid an ordinary dividend of 10 cents per share on 3 December 2022. On 31 December 2022 Sharp Bhd paid a dividend of 7% on its redeemable preference shares. ix) The preference shares of Sharp Bhd are non-redeemable and a dividend of 7% was paid on 30 December 2022 x) It is group policy to value the non-controlling interest using the proportion of net assets method xi)All revenues and expenses are expected to acerue evenly throughout the year. Required: a) Prepare a consolidated statement of comprehensive income for Point Bhd and its group 8) Changes in Group Retained Earnings AM AM Balance c/d Point 385000 Sharp Group profit Dividend 90000 Balance b/d