!~~~~~The shareholders’ equity section of CSR Limited’s 2021 balance sheet is shown below.
CSR Group Note 2021 2020 $m $m Net assets 1 152.5 1 125.5 Equity Issued capital 18 966.7 966.7 Reserves 20 (89.6) (45.7)
Retained profits 241.7 144.0 Equity attributable to shareholders of CSR Limited 1 118.8 1 065.0 Non-controlling interests 24 33.7 60.5 Total equity 1 152.5 1 125.5 CSR Limited, Annual Report 2021, p. 74.
1 At the beginning of the financial year in 2019 share capital (account is issued capital in the balance sheet)
was $1028.8 million, provide a reason for the change compared to the ending balance for 2020?
2 Explain what is meant by non-controlling interests.
3 Retained profits have decreased from $241.7 million to 144.0 million. What items would be used to reconcile these two figures?