Backbeach Ltd acquired a 70 per cent interest in another entity, Frontbeach Ltd, in 2019 for a cost of $5 million. There was no goodwill or bargain gain on purchase. The consolidation worksheet for Backbeach Ltd and its controlled entity as at 30 June 2023 included the following:

REQUIRED

Prepare a consolidated statement of profit or loss and other comprehensive income for Backbeach Ltd and its controlled entities that conforms with the disclosure requirements of AASB 101.

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Parent Consolidated ($000) ($000) 2 000 5 000 400 1 500 1 000 200 50 100 Depreciation expense 100 50 Other expenses 50 10 Revenue Cost of goods sold Dividend revenue Interest expense