18. The Following scenario relates to question 18-20 On 1 January 2019, Dickson had limited acquired 80% of Sherry's two million N$1 ordinary shares. At this date, Sherry had retained earnings of N$ 4 million and a revaluation surplus of N$ 2 million. Dickson Limited had retained earnings of N$ 10 million and a revaluation surplus of N$ 5 million. The fair value of Sherry's net assets at acquisition were equal to their carrying amounts with the exception of Sherry's property which had a fair value of N$ 800 000 in excess of its carrying amount and a remaining life of 20 years. At 31 December 2019, Dickson and Sherry both revalued their assets, Dicksons assets increased by a further N$ 2million while Sherry's increased by N$ 500 000. At this date, Dicksons retained earnings were N$ 11 million and Sherry's were N$ 3.5 million. Required What will the consolidated retained earnings be at 31 December 2019? 1. What will the consolidated retained earnings be at 31 December 2019