36 RACING AUSTRALIA ANNUAL REPORT 2023 STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME Consolidated Note 2023 $ 2022 $ Revenue 2 15,703,447 15,331,869 Other Income 3 242,801 659,996 Expenses Employee benefits 7,734,764 7,330,344 Legal & consulting 559,515 388,955 Audit fees 50,000 47,600 Depreciation & amortisation 4 2,888,357 2,531,419 Research grant 222,997 227,936 Administration 1,945,155 1,926,178 Finance costs 4 104,632 131,418 Impairment 4 - 937,500 Equine Testing Fees 304,477 286,116 13,809,897 13,807,466 Surplus before income tax expense 2,136,351 2,184,399 Income tax expense 1 (b) - - Surplus after income tax expense for the year 2,136,351 2,184,399 Other comprehensive income for the year, net of tax - - Total comprehensive income for the year 2,136,351 2,184,399 FOR THE YEAR ENDED 30 JUNE 2023
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