Tsoona co. bought 30% shareholding on 1st January 2018 in Kabelo Co. at a cost of P50 000.

During the year to 31st December 2018 Kabelo Co. made a profit before tax of 102 000 and taxazion charge on the years profit was P28 000.a dividend of P30 000 was paid on 31st Decenber out of profit for the year.

Required

Prepare extracts for the consolidated statement of profit or loss and consolidated statement of financial position together with the workings in accordance with IAS 28 Investments In Associates And Joint Venture.