Morn Limited, Noon Limited and Night Limited are three companies involved in the production of television programmes, primarily dealing with news and current affairs. A number of the management team of Morn Limited are also key figures on the management teams of Noon Limited and Night Limited, and Morn Limited has always been able to exercise a dominant influence over the policies and programming decisions of the other two companies.

On 1 January 2017, Morn Limited purchased 96,000 €1 ordinary shares in Noon Limited and 40,500 €1 ordinary shares in Night Limited at a cost of €135,000 and €54,000 respectively.
On the same date, Noon Limited purchased 36,000 €1 ordinary shares in Night Limited at a cost of €47,250. The draft statements of financial position of the three companies at 31 December 2017 are shown below

Additional Information:
ie 2 On 1 January 2017, the retained earnings of Noon Limited and Night Limited were €20,000 and €12,000 respectively.
In arriving at the consideration for the shares in Noon Limited, property, plant and equipment was revalued at €115,000 and receivables amounting to €3,000 were deemed irrecoverable. No entry has been made in the books in respect of these valuations-and there were no purchases or sales of property, plant and equipment by any of the companies during the year. The directors wish to give effect to the revaluations in the consolidated financial statements. With respect to the measurement of non-controlling interests at the date of acquisition, the proportionate share method equated to the fair value method. There is no evidence to suggest that the goodwill arising on the acquisition of Noon Limited and Night Limited has been impaired.
. Property, plant and equipment represent filming equipment owned by the companies.
Depreciation is to be provided at 10% per annum on a straight-line basis.
. During the year ended 31 December 2017, Noon Limited sold to Night Limited blank films and tapes for use in programme production for €50,000 cash on delivery. Noon Limited had originally purchased the inventory for €36,000 direct from the manufacturer. At the reporting date, one half of the films and tapes still remained in inventory.
. Receivables of Night Limited include €5,000 owed by Morn Limited.
. Included in the current liabilities of Morn Limited is €4,100 owed by the company to Night Limited.
7. A cheque for €900 was sent by Morn Limited on 30 December 2017 to Night Limited but was not received until 2 January 2018.
NOnN Requirement Prepare the consolidated statement of financial position of Morn Limited as at 31 December 2017.

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Morn Noon Limited Limited Night Limited ASSETS Non-current Assets Property, plant and equipment 214,500 90,000 50,000 Investments 189,000 47,250 403,500 137,250 50,000 Current Assets Inventory Receivables Cash 77,200 34,300 32,600 189,800 158,050 143,600 11,000 8,600 4,100 278,000 200,950 180,300 681,500 338,200 230,300 EQUITY and LIABILITIES Capital and Reserves Called up share capital 300,000 120,000 90,000 Retained earnings 75,000 54,000 37,500 375,000 174,000 127,500 Non-current Liabilities 185,100 77,100 60,100 Current Liabilities 121,400 87,100 42,700 681,500 338,200 230,300