=+The draft statements of financial position of NIP Limited and TUCK Limited as at 31 December 2003 are as follows: NIP €'000 ASSETS Non-current Assets Property Plant and equipment 5,000 3,500 8,500 TURK €000 2,000 2,500 4,500 514 INTERNATIONAL FINANCIAL ACCOUNTING AND REPORTING Current Assets Inventory Receivables - TUCK Receivables - others Bills receivable from TUCK Bank EQUITY AND LIABILITIES Capital and Reserves €1 ordinary shares Retained earnings Current Liabilities Payables Bills payable to NIP iF ose 2,500 1,100 400 900° _ 100 5,000 13,500 rT -00U 10,000 11,000 2,500 we Ot F 2,500 13,500 3,000 - 1,000 \" 100 4,100 8,600 1,000 ; 4,000 5,000 2,700 900 3,600 8,600 Additional Information On 1 January 2003, NIP issued 900,000 €1 ordinary shares with a market value of €5 per share in return for 900,000 €1 ordinary shares in TUCK when the balance on TUCK’s retained earnings was €3,000,000. On that date, the book value and fair value of net assets were the same, except that the property that had a book value of €2,200,000 was valued at €2,700,000. The revaluation has not been incorporated into the books of TUCK. Depreciation is 10% per annum on book value. The invest- ment in TUCK has not yet been incorporated into the books of NIP. With respect to the measurement of non-controlling interests at the date of acquisition, the propor- tionate share method equates to the fair value method. . .