Individual Statements of income of Alpha and its 80% owned subsidiary Beta report the information shown. A fourth of the interest paid by Beta was received by Alpha. During the current year Beta has invoiced goods for £210,000 to Alpha at cost plus a fifth. £60,000 of these goods remained unsold with Alpha by the year-end. Identify the consolidated group profit for the year.

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Gross profit Expenses Interest received Interest paid Taxation Alpha Beta 690,000 £397,000 (£420,000) (£265,000) £5,000 (£20,000) (£58,000) (£25,000) a £292,000 b £281,000 c £277,600 d £297,000