Consolidation worksheet

Financial statements Samuel Edmund Adjustments Group Minority interests Parent

Dr Cr Dr Cr
Sales 1,963,800 777,800 2,741,600 2,741,600
COGS (748,800) (224,800) (973,600) (973,600)
Other expenses (432,400) (231,600) (664,000) (664,000)
Other revenue 604,200 265,000 5 24,000 845,200 845,200
Net profit 1,386,800 586,400 1,949,200 1,949,200
Income tax expense (224,800) (100,000) (324,800) (324,800)
Net profit after tax 1,162,000 486,400 1,624,400 4 97280 1,527,120
Retained earnings 30/6/06 224,000 40,000 2 32,000 232,000 3 8,000 224,000
Dividends paid (80,000) (60,000) 24,000 5 (92,000) 6,000 4 (80,000)
24,000 2 6,000 4
Retained earnings 30/6/07 1,306,000 466,400 1,764,400 1,671,120

Share capital 2,400,000 800,000 2 640,000 2,560,000 3 160,000 2,400,000

General reserve 248,000 300,000 2 216,000 332,000 3 54,000 272,000
4 6,000
BCVR 2 84,000 105,000 1 21,000 3 21,000 -
Total equity - parent 4,343,120
Total equity - MI 4 12,000 243,000 4
6,000 4
97280 4 334,280

Total equity 3,954,000 1,566,400 4,677,400 4,677,400

Accounts Payable 354,000 340,800 694,800

Deferred tax liability 45,000 1 45,000
Total liabilities 354,000 340,800 739,800
Total liabilities and equity 4,308,000 1,907,200 5,417,200
Current assets 895,000 771,200 1,666,200
Goodwill 2 128,000 128,000
Shares in Edmund Ltd 1,076,000 - 2 24,000 1,100,000 2 -
Other non-current assets 1,117,000 424,000 1,541,000
Land 220,000 100,000 1 150,000 470,000
Plant 1,500,000 932,000 2,432,000
Accumulated depreciation (500,000) (320,000) (820,000)
Total assets 4,308,000 1,907,200 1,298,000 1,298,000 5,417,200 358,280 358,280
SAMUEL LTD
CONSOLIDATED INCOME STATEMENT
AS AT 30 JUNE 2007

Sales 2,741,600
Less COGS 973,600
Gross Profit 1,768,000
Other expenses 664,000
Other revenue 845,200
Net profit 1,949,200
Income tax expense 324,800
Net profit after tax $1,624,400

Attributable to:
Parent entity $1,527,120
Minority interest $97,280
SAMUEL LTD
CONSOLIDATED BALANCE SHEET
AS AT 30 JUNE 2007

Assets
Current assets 1,666,200
Goodwill 128,000
Shares in Edmund -
Other non-current 1,541,000
assets
Land 470,000
Plant 2,432,000
Less Acc Dep (820,000) 1,612,000
Total assets 5,417, 200
Liabilities
Accounts payable 694,800
Deferred tax liability 45,000
Total liabilities 739,800
Net assets 4,677,400
Equities
Share capital 2,560,000
General reserve 332,000
Retained earnings 1,764,400
BCVR 21,000
Parent equity 4,343,120
Minority interest 334,280
Total equity 4,677,400