30 RACING AUSTRALIA ANNUAL REPORT 2022 STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME Consolidated Entity Parent Entity Note 2022 $ 2021 $ 2022 $ 2021 $ Revenue Rendering of services 2(a) 15,331,869 15,058,915 15,321,796 15,049,090 Interest 2(b) 11,447 1,840 11,447 1,840 Other 2(b) 1,201,159 1,321,631 1,201,159 1,321,631 16,544,475 16,382,386 16,534,402 16,372,561 Expenses Employee benefits expense 7,330,344 6,967,028 7,311,998 6,949,052 Legal & consulting 388,955 424,574 388,014 424,071 Audit fees 47,600 46,400 37,500 36,500 Depreciation & amortisation 2(c) 2,531,419 2,383,411 2,531,419 2,383,411 Research grant 227,936 243,367 227,936 243,367 Administration 1,926,178 2,043,141 1,914,561 2,030,554 Finance costs 2(c) 131,418 133,773 131,184 133,589 Non-Repayable Grant - 3,000,000 - 3,000,000 Bad & doubtful debts - - 90,821 - Impairment expense 5 937,500 562,500 937,500 562,500 Equine Testing Fees 838,726 842,360 838,726 842,360 14,360,076 16,646,554 14,409,659 16,605,404 Surplus/(Deficit) before income tax expense 2,184,399 (264,168) 2,124,743 (232,843) Income tax 1(b) - - - - Surplus/(Deficit) after income tax expense for the year 2,184,399 (264,168) 2,124,743 (232,843) Other comprehensive income for the year, net of tax - - - - Total comprehensive income for the year 2,184,399 (264,168) 2,124,743 (232,843) The accompanying notes form part of these financial statements.
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