=+. On 1 January 2003 EARTH plc purchased 48 million €1 ordinary shares in WATER Limited for €200 million. The statement of comprehensive income of WATER Limited stood at €310 million on this date. The net assets of WATER Limited had a fair value that was the same as their book value. The goodwill arising on the acquisition of WATER Limited has not been impaired at 31 December 2003.