2 Question 1 - 40 marks Mauve plc, Red plc and Quiz Ltd have produced the following statements of financial position as at 31st July 2021: Mauve '000 Red '000 Quiz '000 2,570 370 280 ASSETS Non-current assets Property, plant and equipment (at NBV) Cost of Investment in Red Cost of Investment in Quiz Total non-current assets 410 100 3,080 Nil Nil 370 Nil Nil 280 Current assets Inventories Trade receivables Bank Total current assets 500 400 250 1,150 90 80 50 220 60 40 70 170 Total assets 4,230 590 450 EQUITY AND LIABILITIES Equity Equity shares of 1 each Retained earnings Total equity 1,000 2.420 3,420 100 380 480 80 280 360 Non-current liability: Loan Nil 5 10 Current liabilities Trade payables Bank overdraft Total current liabilities 810 Nil 810 95 10 105 75 5 80 Total equity and liabilities 4,230 590 450 The following information is also available: 1) On 1st October 2014, Mauve acquired 90% of the ordinary share capital of Red when Red's retained earnings were 220,000. 2) At the date of acquisition, the fair value of Red's property, plant and equipment was considered to be 80,000 more than the book value. The fair value adjustment has not been made in Red's books. Any depreciation consequences of the fair value adjustments may be ignored. . . 3) It is the group's policy to value the non-controlling interest using the proportionate method. 4) On 31st October 2015, Mauve acquired 25% of the ordinary share capital of Quiz when Quiz's retained earnings were 240,000. Required: (a) Prepare the Mauve Group's consolidated statement of financial position as at 31 July 2021