Question: < I need the answer as soon as possible I need the answer as soon as possible Example: Consolidated statement of profit or loss

< I need the answer as soon as possible I need

< I need the answer as soon as possible I need the answer as soon as possible Example: Consolidated statement of profit or loss (mid-year acquisition) Entity P acquired 80% of S on 1 October 20X1. The statements of profit or loss for the year to 31 December 20X1 are as follows: P S Rs. Rs. Revenue 400,000 260,000 Cost of sales (200,000) (60,000) Gross profit 200,000 200,000 Other income 20,000 Distribution costs (50,000) (30,000) Administrative expenses (90,000) (95,000) Profit before tax 80,000 75,000 Income tax expense (30,000) (15,000) Profit for the period 50,000 60,000

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