Below are the statements of comprehensive income of Mycro, its subsidiary Macro and associates Tycro at 31...

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Accounting

Below are the statements of comprehensive income of Mycro, itssubsidiary Macro and
associates Tycro at 31 December 2017. Mycro, Rick and Brads arepublic limited companies.

Mycro    Macro Tycro
$’000 $’000 $’000
Revenue 500 150 70
Cost of Sales (270) (80) (30)
Gross Profit    230 70 40
Other Expenses (150) (20) (15)
Finance Income 15 10    -
Finance Cost (20) - (10)
Profit before tax 75 60 15
Income tax expense (25) (15) (5)
Profit for the year 50 45 10
Other Comprehensive Income:
Gains on property revaluation, net of tax 20 10 5
Total Comprehensive Income for the
year 70 55 15
You are also given the followinginformation:

1. Mycro acquired 80,000 share in Macro for $188,000 3 years agowhen Macro had a credit balance on its reserves of $40,000. Macrohas $100,000 $1 ordinary shares.
2. Mycro acquired 40,000 shares in Tycro for $60,000 for $60,000Tycro has 100,000 $1 ordinary shares.
3. During the year Macro sold some goods to Mycro for $66,000 (cost$48,000). None of the goods sold by the year end.
4. Group policy is to measure non-controlling interest atacquisition at fair value. The fair value of the non-controllinginteres in Macro at acquisition was $40,000. An impairment testcarried out at year end resulted in $15,000 of the recognizedgoodwill relating to Macro being written off and recognition ofimpairment losses of $2400 relating to the investment in Tycro.

Required:
Prepare the consolidated statement of ComprehensiveIncome for the year ended 31 December
2017 for Mycro Group, incorporating its associate.

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Below are the statements of comprehensive income of Mycro, itssubsidiary Macro andassociates Tycro at 31 December 2017. Mycro, Rick and Brads arepublic limited companies. Mycro MacroTycro$’000$’000$’000Revenue50015070Cost of Sales(270)(80)(30)Gross Profit 2307040Other Expenses(150)(20)(15)Finance Income1510 -Finance Cost(20)-(10)Profit before tax756015Income tax expense(25)(15)(5)Profit for the year504510Other Comprehensive Income:Gains on property revaluation, net of tax20105Total Comprehensive Income for theyear705515You are also given the followinginformation:1. Mycro acquired 80,000 share in Macro for $188,000 3 years agowhen Macro had a credit balance on its reserves of $40,000. Macrohas $100,000 $1 ordinary shares.2. Mycro acquired 40,000 shares in Tycro for $60,000 for $60,000Tycro has 100,000 $1 ordinary shares.3. During the year Macro sold some goods to Mycro for $66,000 (cost$48,000). None of the goods sold by the year end.4. Group policy is to measure non-controlling interest atacquisition at fair value. The fair value of the non-controllinginteres in Macro at acquisition was $40,000. An impairment testcarried out at year end resulted in $15,000 of the recognizedgoodwill relating to Macro being written off and recognition ofimpairment losses of $2400 relating to the investment in Tycro.Required:Prepare the consolidated statement of ComprehensiveIncome for the year ended 31 December2017 for Mycro Group, incorporating its associate.