QUESTION $3[30$ MARKS$]$

On $01$ July $2023,$ Petunia Ltd purchased $75\%$ of Spider Ltd$.$ The Income statements for the year ended $31$ December $2023$ of the two entities are as follows:

Income statements for the year ended $31$ December $2023$

$\backslash$table$[[,$Petunia Ltd $ $000,$Spider Ltd $ $000],[$Revenue$,20,000,21,000],[$Cost of sales,$(9,020),(7,700)$