Lex Ltd acquired 75% of Equity Shares of Cate Ltd on 1st September 2018.

Cmphrehensive Income as at 31st December 2020 is as follows;

	Lex	Cate
Revenue	748000	130000
Cost of sales	-320000	-78000
Gross profit	428000	52000
Distribution Cost	-85000	-6000
Admin Cost	-100000	-10000
Finance Cost	-21000	-2000
	222000	34000
Dividends Received	18000
Profit Before Tax	240000	34000
Taxation	-61000	-8000
	179000	26000

Retained earnings of Cate Ltd on 1st September 2018 were 4000

Additional data as at 31 December 2020 are as follows

	Lex	Cate
Balance 31 Dec 2019	65000	8000
Profit for the year	179000	26000
Dividend	-130000	-24000
Balance 31 Dec 2020	114000	10000

Lex sold goods to Cate amounting to 12000 and the goods had been bought at 7000. One-quarter of the goods was still held by Cate as of 31 December 2020

Goodwill on consolidation suffered an impairment loss of 15000

Required.

1. Consolidated Statement of Income as of 31 December 2020

2. Extract from the consolidated statement of changes in equity showing changes in the group retained earnings during the year 31 December 2020