The income statements are given for the Wonder group for the year ended 31 December 2022...

  

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The income statements are given for the Wonder group for the year ended 31 December 2022 are as following: Revenue Cost of sales Gross profit Other operating expenses Profit from operations Investment income Finance costs Profit before tax Taxation Profit for the year Relevant information: Candy Berhad RM'000 120,000 (60,000) 60,000 (18,000) 42,000 18,600 (6,000) 54,600 (15,200) 39,400 Chocolate Berhad RM'000 90,000 (45,000) 45,000 (9,000) 36,000 4,500 (4,500) 36,000 (11,000) 25,000 Icecream Berhad RM'000 84,000 (42,000) 42,000 (4,200) 37,800 0 (2,100) 35,700 (10,000) 25,700 (i) Candy Berhad owns 100% shares in Chocolate Berhad and 40% of the shares in Icecream Berhad. Candy Berhad has provided each company with a loan of RM10 million at an interest rate of 10%. Both loans have been outstanding throughout the period. (ii) Candy Berhad acquired Chocolate Berhad when the fair value of its net assets was RM1,000,000 higher than its carrying value. This related to a building which had an estimated future useful life of 10 years at the date of acquisition. (iii) Candy Berhad supplies a component which is used as a raw material by Chocolate Berhad and Icecream Berhad. During the year ended 31 December 2022, sales of such components by Candy Berhad to Chocolate Berhad were RM800,000 and by Candy Berhad to Icecream Berhad RM600,000. The inventories of the above-mentioned raw material were included in the accounts of Chocolate Berhad at 31 December 2022 at cost to Chocolate Berhad of RM600,000. Icecream Berhad held no inventory purchased from Candy Berhad at the year end. Candy Berhad marks up all sales to Chocolate Berhad and Icecream Berhad by 25%. (iv) During the year there was no impairment of goodwill or intra-group dividends paid. Required: Prepare the consolidated income statement for group of companies. The income statements are given for the Wonder group for the year ended 31 December 2022 are as following: Revenue Cost of sales Gross profit Other operating expenses Profit from operations Investment income Finance costs Profit before tax Taxation Profit for the year Relevant information: Candy Berhad RM'000 120,000 (60,000) 60,000 (18,000) 42,000 18,600 (6,000) 54,600 (15,200) 39,400 Chocolate Berhad RM'000 90,000 (45,000) 45,000 (9,000) 36,000 4,500 (4,500) 36,000 (11,000) 25,000 Icecream Berhad RM'000 84,000 (42,000) 42,000 (4,200) 37,800 0 (2,100) 35,700 (10,000) 25,700 (i) Candy Berhad owns 100% shares in Chocolate Berhad and 40% of the shares in Icecream Berhad. Candy Berhad has provided each company with a loan of RM10 million at an interest rate of 10%. Both loans have been outstanding throughout the period. (ii) Candy Berhad acquired Chocolate Berhad when the fair value of its net assets was RM1,000,000 higher than its carrying value. This related to a building which had an estimated future useful life of 10 years at the date of acquisition. (iii) Candy Berhad supplies a component which is used as a raw material by Chocolate Berhad and Icecream Berhad. During the year ended 31 December 2022, sales of such components by Candy Berhad to Chocolate Berhad were RM800,000 and by Candy Berhad to Icecream Berhad RM600,000. The inventories of the above-mentioned raw material were included in the accounts of Chocolate Berhad at 31 December 2022 at cost to Chocolate Berhad of RM600,000. Icecream Berhad held no inventory purchased from Candy Berhad at the year end. Candy Berhad marks up all sales to Chocolate Berhad and Icecream Berhad by 25%. (iv) During the year there was no impairment of goodwill or intra-group dividends paid. Required: Prepare the consolidated income statement for group of companies.