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:

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 December20X1.

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Morn 360,000 20,000 240,000 0,800 250,800 69,000 181,800 Gross profit Expenses 80,000 10,000 70,000 Dividends received from Eve Ltd Profit before tax Income tax expense Profit for the period 70,000 8,000 52,000