The statements of financial position of Mars plc and Jupiter plc at 31 December 2012 are as follows:

The statements of comprehensive income of Mars plc and Jupiter plc at 31 December 2012 are as follows:

Mars acquired 80% of the shares in Jupiter on 1 January 2011 when Jupiters retained earnings were 80,000 and the balance on Jupiters general reserve was 18,000. Non-controlling interests are measured using method 1. During the year Mars sold Jupiter goods for 18,000 which represented cost plus 50%. Half of these goods were still in stock at the end of the year.

Required:

Prepare a consolidated statement of comprehensive income and a statement of financial position for the year ended 31/12/2012.

Mars Jupiter ASSETS Non-current assets at cost Depreciation 550,000 220,000 330,000 87,500 225,000 67,500 157,500 Investment in Jupiter Current assets Inventories Trade receivables Current account Jupiter Bank 67,500 90,000 225,000 80,000 22,500 36,000 463,500 981,000 18,000 175,500 333,000 Total assets EQUITY AND LIABILITIES Capital and reserves EI common shares General reserve Retained earnings 96,000 245,000 225,000 666,000 90,000 31,500 35,000 256,500 Current liabilities Trade payables Taxation Current account - Mars 283,500 31,500 40,500 13,500 22,500 76,500 333,000 3 15,000 981,000 Total equity and liabilities Sales Cost of sales Gross profit Expenses Dividends received from Jupiter Profit before tax Income tax expense Profit for the period Dividends paid 1,440,000 , 045,000 395,000 23,500 9,000 280,500 31,500 249,000 80,000 69,000 156,000 225,000 270,000 35,000 135,000 90,000 NIL 45,000 3,500 31,500 1,250 20,250 1 14,750 135,000 Retained earnings brought forward from previous years