000 60 You have been provided with the statements of financial position of Customs ple and Union Limited as at 31 December 2019. Statements of Financial Position as at 31 December 2019 Customs plc Union Limited ES000 Assets Non-current assets Property, plant and equipment 740 815 Investment in Union Limited at cost 95 835 815 Current assets Inventory 85 Receivables 215 80 Cash in hand and at bank 87 20 387 160 1.222 975 Equity and Liabilities Equity Called up share capital 300 500 Retained earnings 615 355 915 855 Current liabilities 307 120 1,222 975 Additional Information 1. On 1 January 2010 Customs plc purchased 80% of the shares of Union Limited, a company incorporated and operating in a country whose currency is the Eurasian dollar ES). The retained earnings of Union Limited amounted to E$100,000 on 1 January 2010. For the purposes of measuring non-controlling interests at the date of acquisition, the proportionate share method equated to the fair value method. Goodwill was impaired for the first time by 5,000 during the year ended 31 December 2019. 2. The financial statements for the year ended 31 December 2019 included the following: Customs plc Union Limited 000 ES000 Operating profit 370 297 Dividend received from Union Limited 9 Taxation charge (160) Dividend paid (60) Profit retained for the financial year 160 (77) 219 No other dividends were paid or proposed by either company. 3. The following exchange rates have been ascertained: 1 January 2010 ES10 = 1 31 December 2018 E$6 = 1 31 December 2019 ES5 = 1 Average rate for the year ended 31 December 2019 E$5.5 = 1 Requirement Prepare the consolidated statement of financial position of Customs Group as at 31 December 2019, showing any foreign exchange gains and losses arising. 15 Marks Total 25 Marks