2. Mike plc acquired 70% of the common shares of Kimberly plc on 1/1/20X0 and gained control. At that date the statements of financial position of the two companies were as follows:

Mike plc	Kimberly plc
Asset
Non-current assets
Property, plant and equipment	230	130
Investment in Ball	170
Current assets	90	80
Total assets	490	210

6

Equity and Liability
Capital and reserves
Share capital	250	110
Share premium	30
Retained earnings	120	10
Current liabilities	120	60
Total equity and liabilities	490	210

Fair value of the property, plant and equipment in Kimberly at 1/1/20X0 was 155,000. The fair value of the non-controlling interest in Kimberly at 1/1/20X0 was 60,000. The fair value method should be used to measure the non-controlling interest. Required: Prepare a consolidated statement of financial position for Mike group as at 1 January 20X0