PART B Worksheet (50 Marks) Required Prepare the consolidation worksheet as at 30 June 2020, showing all entries including the corrected entries discussed in Part A. Round your answers to zero decimal places. Galway Dublin Ref Adjustments Ref Group ($) Ltd ($) Ltd ($) Dr ($) Cr ($ ) Sales revenue 180 000 131 000 Cost of sales (88 000) (58 000) Gross profit 92 000 73 000 Dividend revenue 14 000 Service fee 90 000 revenue Proceeds from 148 000 sale of equipment Depreciation (12 000) (8 000) Impairment loss - Goodwill Carrying amount (40 000) of equipment sold Service fee (90 000) expense Other expenses (22 000) (15 000) Profit before tax 162 000 68 000 Less: Income tax (48 600) (20 400) expense Profit for the year 113 400 47 600 Retained earnings 72 000 80 000 (1/7/19) Dividend paid (18 000) Dividend declared (26,000) Retained earnings 159 400 109 600 (30/6/20) Share capital 165 000 95 000 General reserve 30 000 25 000 BCVR Shareholders' 354 400 229 600 equity Liabilities Accounts payable 37 000 3 000 Other Payables 24 600 9 000 Dividend payable 26 000 Deferred Tax 50 000 11 000 liability Total liabilities 137 600 23 000