Financial information for Jasmine and Lessard for the year ended December 31, 2013, is shown below:

Additional information:
1. On January 1, 2012, Jasmine purchased 100% of the shares of Lessard for $50,000. At that date the equity of the two entities was as follows:

At January 1, 2012, all the identifiable assets and liabilities of Lessard were recorded at fair value except for the following:

All of this inventory was sold by December 2012. The plant and equipment had a further five-year life.
2. Jasmine records dividends receivable as revenue when dividends are declared.

3. The opening inventory of Lessard included goods that cost Lessard $2,000. Lessard purchased this inventory from Jasmine at cost plus 33 1/3%.
4. Intragroup sales totalled $10,000 for the year. Sales from Jasmine to Lessard, at cost plus 10%, amounted to $5,600 and are still in the closing inventory of Lessard. The closing inventory of Jasmine included goods that cost it $4,400. Jasmine purchased this inventory from Lessard at cost plus 10%.
5. On December 31, 2012, Lessard sold Jasmine offi ce furniture for $3,000. This furniture originally cost Lessard $3,000 and was written down to $2,500 when sold. Jasmine depreciates furniture at the rate of 10% p.a. on cost.
6. During the year, Jasmine paid rent of $7,000 to Lessard.
7. The tax rate is 30%.

Required
Prepare the consolidated statement of comprehensive income for the year ended December 31, 2013.

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Jasmine Lessard $78,000 $40,000 3,000 1,600 Revenue Gain on sale of office furniture Dividend revenue 4,400 82,400 Total income 44,600 Cost of sales 60,000 10,800 30,000 7,500 Other expenses Total expenses 70,800 37,500 Profit before income tax 11,600 3,000 7,100 2,200 Income tax expense Profit for the year Retained earnings (1/1/13) 8,600 14,500 4,900 2,800 23,100 7,700 Interim dividend paid 4,000 8,000 2,000 2,400 Final dividend declared 12,000 4,400 $ 3,300 $11,100 Retained earnings (31/12/13) Jasmine Lessard Retained earnings Share capital 39,500 50,000 6,800 40,000