The statements of profit or loss and other comprehensive income and statements of changes in equity of P Bhd, A Bhd , B Bhd and X Bhd for the year ended 31 December 2010 are given below: Statements of Profit or Loss for the year ended 31 December 2010 A Bhd RM000 160,000 (90.000) 70,000 B Bhd RM000 120,000 (49.000) 71,000 Sales Cost of sales Gross profit Investment income Operating expenses Profit before tax Taxation Profit after tax P Bhd RM000 180,000 (106,200) 73,800 20,000 (25,000 68,800 (27.000) 41.800 X Bhd RM000 100,000 (70.000) 30,000 400 (12.000) 18,400 (5.800) 12,600 (48,000) 22,000 (6,500) 15,500 (46,000 25,000 (7,500)) 17.500 Statements of Changes in Equity for the year ended 31 December 2010 P Bhd RM000 28,500 41.800 70,300 (3,000) (11,000 56,300 A Bhd RM000 10.200 15,500 25,700 B Bhd RM000 11,400 17.500 28,900 X Bhd RM000 2,500 12,600 15,100 Balance at 1/1/2010 Net profit for the year Ordinary dividends Transfer to general reserve Balance at 31/12/2010 (500) 14,600 25,700 28,900 Additional information: 1. On 1 January 2008, P Bhd acquired 60% of the issued ordinary shares in A Bhd for RM710 million. On that date, the fair value of the plant of A Bhd was RM6 million and its carrying value was RM5 million. The remaining economic life of the plant was 8 years. A Bhd did not incorporate the fair value in its accounts. On 1 January 2008, the retained profit of A Bhd had a credit balance of RM4 million and there were no other reserves. The issued share capital of A Bhd is made up of 815 million ordinary shares of RM1 each. 2. On 1 July 2010, A Bhd acquired 80% of the issued ordinary shares in B Bhd for RM672 million. On that date, the carrying value of the net assets of B Bhd reflected their fair values. On that date, there were no other reserves except the retained profit. The issued share capital of B Bhd is made up of 700 million ordinary shares of RM1 each. 3. On 1 April 2010, P Bhd acquired 25% of the issued ordinary shares of X Bhd. P Bhd has joint control over X Bhd. Goodwill on consolidation was RM100,000 and there was no impairment of goodwill. 4. During the month of August 2010, X Bhd sold goods to P Bhd for RM20 millions of which RM4 million remained in the inventory of P Bhd at 31 December 2010. X Bhd made a profit of RM6 million on these sales. 5. The profits of all the companies accrued evenly throughout the year. 6. The goodwill of A Bhd had been previously impaired by 10%. There was no impairment of goodwill for the current year. 7. P Bhd accounts for its joint venture using the equity method. 8. The NCI were measured based on proportionate share of the fair value of the net assets of the subsidiary on date of acquisition. Required: a. Prepare the Consolidated Statement of Comprehensive Income for P Bhd Group for the year ending 31 December 2010. b. Prepare an extract of the Statement of Changes in Equity for P Bhd Group for the year ending 31 December 2010. The statements of profit or loss and other comprehensive income and statements of changes in equity of P Bhd, A Bhd , B Bhd and X Bhd for the year ended 31 December 2010 are given below: Statements of Profit or Loss for the year ended 31 December 2010 A Bhd RM000 160,000 (90.000) 70,000 B Bhd RM000 120,000 (49.000) 71,000 Sales Cost of sales Gross profit Investment income Operating expenses Profit before tax Taxation Profit after tax P Bhd RM000 180,000 (106,200) 73,800 20,000 (25,000 68,800 (27.000) 41.800 X Bhd RM000 100,000 (70.000) 30,000 400 (12.000) 18,400 (5.800) 12,600 (48,000) 22,000 (6,500) 15,500 (46,000 25,000 (7,500)) 17.500 Statements of Changes in Equity for the year ended 31 December 2010 P Bhd RM000 28,500 41.800 70,300 (3,000) (11,000 56,300 A Bhd RM000 10.200 15,500 25,700 B Bhd RM000 11,400 17.500 28,900 X Bhd RM000 2,500 12,600 15,100 Balance at 1/1/2010 Net profit for the year Ordinary dividends Transfer to general reserve Balance at 31/12/2010 (500) 14,600 25,700 28,900 Additional information: 1. On 1 January 2008, P Bhd acquired 60% of the issued ordinary shares in A Bhd for RM710 million. On that date, the fair value of the plant of A Bhd was RM6 million and its carrying value was RM5 million. The remaining economic life of the plant was 8 years. A Bhd did not incorporate the fair value in its accounts. On 1 January 2008, the retained profit of A Bhd had a credit balance of RM4 million and there were no other reserves. The issued share capital of A Bhd is made up of 815 million ordinary shares of RM1 each. 2. On 1 July 2010, A Bhd acquired 80% of the issued ordinary shares in B Bhd for RM672 million. On that date, the carrying value of the net assets of B Bhd reflected their fair values. On that date, there were no other reserves except the retained profit. The issued share capital of B Bhd is made up of 700 million ordinary shares of RM1 each. 3. On 1 April 2010, P Bhd acquired 25% of the issued ordinary shares of X Bhd. P Bhd has joint control over X Bhd. Goodwill on consolidation was RM100,000 and there was no impairment of goodwill. 4. During the month of August 2010, X Bhd sold goods to P Bhd for RM20 millions of which RM4 million remained in the inventory of P Bhd at 31 December 2010. X Bhd made a profit of RM6 million on these sales. 5. The profits of all the companies accrued evenly throughout the year. 6. The goodwill of A Bhd had been previously impaired by 10%. There was no impairment of goodwill for the current year. 7. P Bhd accounts for its joint venture using the equity method. 8. The NCI were measured based on proportionate share of the fair value of the net assets of the subsidiary on date of acquisition. Required: a. Prepare the Consolidated Statement of Comprehensive Income for P Bhd Group for the year ending 31 December 2010. b. Prepare an extract of the Statement of Changes in Equity for P Bhd Group for the year ending 31 December 2010