(3) On 1 January 2017, a piece of land of East had a fair value of RM240.000 in excess of its book value. The value this land had not changed since acquisition. North Berhad, a public limited company, acquired 80% ordinary shares in East Berhad on 1 January 2017 for RM8,640,000 when the accumulated retained earnings of East Berhad were RM2,000,000. North Berhad also acquired one third (1/3) of the issued ordinary share capital in West Berhad on 1 July 2019 for RM4,000,000. During 2019, North sold goods to East for RM260,000. Two thirds of these goods were still in inventory of East at 31 December 2019. In November 2019 North sold inventory for RM130,000 to West and West has not sold any of these inventory. North transfers inventory to East and West at a mark up of 30% on cost. Balance sheets of the three companies as at 31 December 2019 are given below: West RM'000 As at the end of the year, East had not provided for the second half-year interest on the 10% Bonds. Non-current assets Freehold property Plant and equipment Investments in companies North RM'000 10,000 6,100 14.000 30,100 East RM'000 1,000 7,400 1,820 10,220 8,550 510 9,060 Included in accounts payable of East was an amount of RM70,000 due to North. However, North has factored without recourse, RM40,000 of these accounts receivable. Current assets Inventories Accounts receivable Cash and cash equivalents 1,660 1,040 480 3,180 680 580 100 1,360 600 300 150 1,050 The group accounting policy for goodwill is to write it off on a straight-line basis over a period of five years with a proportionate charge where it arises part way through an accounting period. The amortisation of goodwill has not been recorded in the book yet. Current liabilities Accounts payable Taxation 1,240 440 1,680 2,120 500 2,620 750 60 810 (8) Assume that income and expenses accrue evenly throughout the year. Required: Net current assets (a) 1,500 31,600 (1,260) 8,960 240 9,300 Prepare a consolidated statement of financial position for North Berhad and its subsidiary as at 31 December 2019, incorporating its associate in accordance with MFRS 128; Financed by: Ordinary shares capital Retained profit b/f Profit for the year 10,000 12,000 8,600 3,600 3,260 1,600 3,000 4,500 1,800 Lay out workings for (0) Goodwill; () Group retained earnings: a) Minority interest and (iv) Investment in associates. Non-current Liabilities 8% Loan note 10% Bonds 1,000 31,600 500 8,960 9,300 Additional information: (1) On February 2017, East declared and paid a net dividend of RM350,000 for the year 2016. North credited its income statement with its share of the dividend received. (2) On 1 January 2019, North acquired 60% of the 10% bonds issued by East paying RM300,000. On