On 1 July 2015, Ausra purchased 75% of Danute by way of a share exchange of two new shares in Ausra for every three purchased in Danute Ausra's share price at the acquisition date was $4.70.1 Statement of Comprehensive Income for the year ended 31 December 2015 Ausra$ 000 Danute$ 000 120,000 48,000 (84,000) (40,000) 8,000 (400) 7,600 Revenue Cost of sales Gross profit Operating expenses Profit from operations Other income Finance costs Profit before tax Income tax expense Profit for the year 36,000 (11,900) 24,100 300 24,400 (6,000) 18,400 (1,200) 6,400 (1,200) 5,200 The following information is relevant 1)The fair value of Danute's net assets differed from its carrying values at 1 July 2015. Plant was $8 million in excess of its net book value. Plant had 4 years remaining at the date of acquisition. The group depreciation policy is to charge depreciation on a proportionate basis and should be included in cost of sales. No adjustment was made for this in Danute's financial statements. 2)Ausrahas a policy of revaluing land and buildings to fair value (as allowed per IAS 16) at each reporting date. Danute accounts for its non-current assets at historical cost. At the acquisition date, Danute's land and buildings had a fair value of $2 million greater than their book value and at 31 December 2015 this had increased by a further $400,000 (ignore any additional depreciation). 3)On 1 July 2015, Ausra transferred an item of machinery to Damute. The machine had originally cost $1.2 million on 1 July 2010, and it was transferred to Danute for $1 million. Machines have a useful life of ten years. The Useful Economic Life has not changed as a result of the transfer. 4)During the year Ausrasold goods to Danute at a transfer price of $250,000. All of the goods were sold on outside the group by the year-end. The current accounts of Ausra and Danute were reconciled at the year end with Danute owing $50,000. 5)An impairment test carried out on 31 December 2015 concluded that consolidated goodwill was impaired by $780,000. Prepare a consolidated Statement of Comprehensive Income for Ausra for the year to 31 December 2015.