1 On 1 October 2020, Vanguard Ltd acquired 75% of Jupiter Ltd's equity shares by means of share exchange of two new shares in Vanguard Ltd for every five acquired shares in Jupiter. In addition, Vanguard issued to the shareholders of Jupiter a 100 10% loan note for every 1,000 shares it acquired in Jupiter. Vanguard has not recorded any of the purchase consideration, although it does have other 10% loan notes already in issue. The market value of Vanguard's shares at 1 October 2020 was 2 each. The summarised statements of financial position of the two companies as at 31 March 2021 are: Property, Plant& Equipment Financial asset: equity investment Vanguard m Jupiter m 47.4 25.5 7.5 3.2 Stock 20.4 8.4 Trade receivables 14.8 9.0 Bank 2.1 nil 37.3 17.4 Current liabilities Bank overdraft nil 9.1 Trade payables 17.6 19.7 13.0 (4.7) 74.6 24 Non-current liabilities 10% loan notes 8.0 nil 66.6 24 Share Capital (1) 40 20 Reserves (P&L) 26.6 4 66.6 24 1) At the date of acquisition (1 October 2020), Jupiter has a negative balance on revenue reserves of 6 million. Also at the date of acquisition, Vanguard conducted a fair value exercise on Jupiter's net assets which were equal to their carrying amount (including Jupiter's financial assets equity investment) with the exception of an item of plant which had a fair value of 3 million below its carrying amount. The plant had a remaining economic life of three years at 1 October 2020 and depreciation is charged on a straight-line basis 2) Each month since acquisition, Vanguard's sales to Jupiter were consistently 4.6 million. Vanguards had marked these up by 15% on cost. Jupiter had one month's supply (4.6 million) of these goods in inventory at 31 March 2021. Vanguard's normal mark-up (to third party customers) is 40%. 3) Jupiter's trade payable balance with Vanguard at 31 March 2021 was 2.8 million, which did not agree with Vanguard's equivalent trade receivable due to a payment of 900,000 made by Jupiter on 28 March 2021. It was not received by Vanguard until 3 April 2021. 4) There was no impairment loss within the group during the year ended 31 March 2021. Required: (a) Produce the consolidated statement of financial position for Vanguard Group as at 31 March 2021 consistent with international accounting standards. [22 marks]