Notes to the Financial Statements (continued)  HARVEY NORMAN HOLDINGS LIMITED AND ITS CONTROLLED ENTITIES – ANNUAL REPORT 2003  50  CONSOLIDATED PARENT 2003  2002  2003  2002  $000  $000  $000  $000  28. Retained Profits and Dividends  Retained Profits (attributable to members of the parent entity):  Retained profits at the beginning of the financial year  423,219  342,457  322,016  179,256  Adjustment arising from adoption of revised  accounting standard AASB 1044 “Provisions,  Contingent Liabilities and Contingent Assets”  26,738  -  26,738  -  Reclassification of minority interest dividend  provision (341)  -  (341)  -  Dividends provided for or paid  (52,794)  (47,515)  (52,794)  (47,515)  Net profit  151,049  128,277  122,460  190,275  Retained profits at the end of the financial year  547,871  423,219  418,079  322,016  Outside Equity Interests  Outside equity interests in controlled entities  comprise the following:  Interest in contributed equity  53,644  56,400  -  -  Interest in reserves (1,542)  (1,358)  -  -  Interest in dividends -  (341)  -  -  Interest in opening retained earnings  5,157  14,484  -  -  Interest in current year profit  10,627  782  -  -  Total Outside Equity Interests 67,886  69,967  -  -  Equity:  Total equity at the beginning of the financial  year  875,894  653,811  568,607  322,125  Total changes in equity recognised in the Statement of Financial Performance  186,621  148,503  122,460  190,275  Transactions with owners as owners Dividends  Rights Issue  (52,794)  -  (47,515)  103,722  (52,794)  -  (47,515)  103,722  Adjustment arising from adoption of revised  accounting standard AASB 1044 “Provisions,  Contingent Liabilities and Contingent Assets”  26,738  -  26,738  -  Reclassification of minority interest dividend  provision (341)  -  (341)  -  Total changes in outside equity interests  (2,081)  17,373  -  -  Total equity at the reporting date  1,034,037  875,894  664,670  568,607  Retained Profits Retained profits and reserves that could be  distributed as dividends and franked out of  existing franking credits or out of franking  credits arising from income tax payable  255,189  211,491  195,365  164,914 