Morn Ltd acquired 90% of the shares in Eve Ltd on 1 January 20X1 for £90,000 when Eve Ltd”s accumulated profits were £50,000. On 10 January 20X1 Morn Ltd received a dividend of £10,800 from Eve Ltd out of the profits for the year ended 31/12/20X0. On 31/12/20X1 Morn increased its non-current assets by £30,000 on revaluation. The summarized statements of comprehensive income for the year ended 31/12/20X1 were as follows:
| Morn | Eve | |
| £ | £ | |
| Gross profit | 360,000 | 180,000 |
| Expenses | 120,000 | 110,000 |
| 240,000 | 70,000 | |
| Dividends received from Eve Ltd | 10,800 | — |
| Profit before tax | 250,800 | 70,000 |
| Income tax expense | 69,000 | 18,000 |
| Profit for the period | 181,800 | 52,000 |
There were no inter-company transactions, other than the dividend. There was no goodwill.
Required:
Prepare a consolidated statement of comprehensive income for the year ended 31 December 20X1.
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