Umma Ltd$,$ a company quoted on the Nairobi Stock Exchange, has a foreign subsidiary, Mgeni Ltd$.,$ whose reporting currency is the TR$.$ The reporting currency of Umma Ltd$.$ is the Kenya Shilling $($Ksh$.).$ The financial statements of the two companies for the year ended $31$ October $2021$ were as follows:

Income statements

For the year ended $31$ October $2021$:

Ksh$.$million$$

TR $$Million$$

Revenue

$40,425$

$97,125$

Cost of sales

$(35,500)$

$(77,550)$

Gross profit

$4,925$

$19,575$

Other income

$277$

$200$

$5,202$

$19,775$

Distribution costs

$(2,640)$

$(3,150)$

Administration expenses

$(1,640)$

$(2,100)$

Finance cost

$(120)$

$(600)$

Profit before tax

$802$

$13,925$

Tax expense

$(300)$

$(4,725)$

Dividends: Interim paid

$(300)$

$(1,448)$

Final proposed

$(400)$

$(2,304)$

Retained profit for the period

$(198)$

$(5,448)$

Statement of financial Position As at $31$ October $2021$:

Ksh$.$million$$

TR $$million$$

Non$-$current assets:

Property, plant and equipment

$3,240$

$4,860$

Investment in Mgeni Ltd

$470$

$-$

$3,710$

$4,860$

Current assets:

Inventory

$1,990$

$8,316$

Accounts receivable

$1,630$

$4,572$

Cash at bank

$240$

$2,016$

Total assets

$7,570$

$19,764$

Equity and liabilities:

Ordinary share capital

$118$

$1,348$

Retained profits

$502$

$9,260$

$620$

$10,608$

Non$-$current liability:

$12\%$ loan stock

$1,000$

$4,860$

Current liabilities:

Accounts payable

$5,500$

$1,932$

Current tax

$50$

$60$

Proposed dividends

$400$

$2,304$

Total equity and liabilities

$7,570$

$19,764$

Additional information:

Umma Ltd$.$ acquired $75\%$ of the ordinary share capital of Mgeni Ltd$.$ on $1$ November $2018$ when the retained profits of Mgeni Ltd$.$ were TR $2,876$ million. The goodwill arising on the acquisition of Mgeni Ltd$.$ is considered to be an asset of Mgeni Ltd$.$ No amortization of goodwill is charged on profits.

Other income reported by Umma Ltd$.$ is made up of interim dividend received from Mgeni Ltd$.$ Mgeni Ltd$.$ paid the dividend on $15$ July $2021.$ Other income reported by Mgeni Ltd$.$ is made up of the exchange gain on retranslating the $12\%$ loan stock. The loan stock was obtained from a foreign country.

During the year ended $31$ October $2021,$ Umma Ltd$.$ sold goods worth Ksh$\mathrm{.}900$ million to Mgeni Ltd$.$ Umma Ltd$.$ reported a profit of $25\%$ on cost$.$ Half of these goods were still in the inventory of Mgeni Ltd$.$ as at $31$ October $2021.$

The relevant exchange rates at select dates were as follows:

Date

TR to $1$ Kenya shilling

$1$ November $2018$

$4\mathrm{.}40$

$31$ October $2020$

$4\mathrm{.}00$

$15$ July $2021$

$3\mathrm{.}92$

$31$ October $2021$

$3\mathrm{.}60$

Average for the year ended $31$ October $2021$

$3\mathrm{.}75$

Required:

Consolidated statements of profit or loss for the year ended $31$ October $2021$ in Kenya Shillings.

Consolidated balance sheet as at $31$ October $2021$ in Kenya shillings. $($Round the figures to the nearest $1$ million where necessary$)$