10.5 7 The facts are as stated in Question 10.4 above except that Heep acquired only 150,000 of the 200,000 issued ordinary shares of Seep. Non-controlling interest is measured based on the net assets of the investee. Required: i Show the initial journal entries to prepare the consolidated financial statements. ii. Prepare the consolidated statement of financial position of Heep Group as at 31 December x1. Th the 10.4 Given below are the statements of financial position of Heep and Seep as at 31 December x1. Seep YG i Heep RM'000 300 40 50 390 RM'000 200 40 Equity and Liabilities Ordinary share capital Retained profit Labilities 290 Assets Investment in ordinary shares of Seep at cost Sundry net assets 250 140 390 290 290 Heep purchased all the ordinary shares of Seep on 31 December x1