The statements of comprehensive income for AB, CD and EF for the year ended 31 May 2009 are shown below:

Additional information:
AB operates a defined benefit pension plan for its employees. At the year end, there is an actuarial loss of $52 000 on the pension plan liabilities and an actuarial gain of $40 000 on pension plan assets. These amounts are not reflected in the above statements. In accordance with the amendment to IAS 19, Employee Benefits, AB recognizes actuarial gains and losses from the defined benefit plan in other comprehensive income in the period that they occur.
AB holds a 15% investment in XY which is designated as available for sale. The fair value of this investment at 31 May 2009 was $106 000. The investment is currently recorded in the financial statements at $92 000.
AB owns 80% of the ordinary share capital of CD and exercises control over its operating and financial policies. AB owns 30% of the ordinary share capital of EF and exerts significant influence over its operating and financial policies.

Required:
Prepare the consolidated statement of comprehensive income for the AB Group, taking account of the information provided in the notes above. Ignore any further taxation effects of notes 1 and 2.

Transcribed Image Text:

CD $000 AB $000 6 000 (4 800 1 200 (64) (336) (30) 770 1 000 (800) 200 (10) (52) 3 000 Revenue Cost of sales Gross profif Distribution costs Administrative expenses Finance costs Profit before tax Income tax expense PROFIT FOR THE YEAR Other comprehensive income: (2 400) (32) (168) (15) 385 133 (33) 100 30 566 200 283 100 Revaluation of property Tax effect of revaluation Other comprehensive income for the year, net of tax TOTAL COMPREHENSIVE INCOME FOR THE YEAR 42) 158 (21) 24 724 124