the statements of comprehensive income for continent plc island ltd and river ltd fo 535069

The statements of comprehensive income for Continent plc, Island Ltd and River Ltd for the year ended 31 December 20X9 were as follows:

Continent plc acquired 80% of Island Ltd for A27,500 on 1 January 20X3, when Island Lid”s retained earnings were A22,000 and share capital was A5,500. During the year, Island Ltd sold goods costing A2,750 to Continent plc for A3,850. At the year end, 10% of these goods were still in Continent plc”s inventor y.

Continent plc acquired 40% of River Ltd for A100,000 on 1 January 20X5, when River Ltd”s share capital and reserves totaled A41,250 (share capital consisted of 11,000 50c shares). During the year River Ltd sold goods costing A1,650 to Continent plc for A2,200. At the yearend, 50% of these goods were still in Continent plc”s inventor y.

Goodwill in Island Ltd had suffered impairment charges in previous years totaling A2,200 and Goodwill in River Ltd impairment charges totaling A7,700. Impairment has continued during 2009 reducing the Goodwill in Island by A550 and the Goodwill in River by A3,850. Continent plc includes in its revenue management fees of A5,500 charged to Island Ltd and A2,750 charged to River Ltd. Both companies treat the charge as an administration cost.

Non-controlling interests are measured using method 1.

Required:

Prepare Continent plc”s consolidated statement of comprehensive income for the year ended 31 December 20X9.