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Pretoris ltd acquired 60% of holding of Salgaa ltd on 1 april 2014. The p&l of each company for the year ended 2015 December were as follows:
Pretoris ltd Salgaa ltd Salgaa (9/12)
Sales 190,000 87,000 40,000
Cost of sales 45,000 68,420 13,000
Administration expenses 20,500 16,600 4,500
Taxation 18,600 3,200 1,700
Dividends 4,000 2,050
Retained profits b/f 16,700 7,600
Prepare consolidated p&l account
Pretoris GroupConsolidated Statement of Comprehensive IncomeFor the year ended 31/12/2015Sales Revenue 190,000+87,000Cost of sales 45,000+68,420Gross ProfitExpensesAdmin expenses…
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