3. Sayang Bhd is a public listed company dealing with household utensil and equipment. The followings are the Statement Of Financial Position of Sayang Bhd. Bayang Bhd and Dayang Bhd as at 31 December, 2021. T Non-Current Assets Sayang Bhd Bayang Bhd Dayang Bhd RM'000 RM'000 RM'000 Property, plant & Equipment 165,000 25,000 50,000 Investment in BayangBhd 57,500 Investment In Dayang Bhd 60,000 Intellectual property 2,500 Other investments 5.000 1.500 230.000 86.500 50.000 Current Assets Inventories 62,500 30,000 24,250 Trade receivables 27,500 14,000 9,750 Cash & Cash Equivalents 95.000 17.500 19,250 185.000 61.500 53.250 Total Assets 415,000 148,000 103,250 Equity Ordinary Shares 210,000 50,000 50,000 Retained profits Other reserves 85,000 39,500 22,500 25,000 12,500 7.500 Total Equity 320.000 102.000 80,000 Non-Current Liabilities Long term borrowings 30,000 15,000 5,000 Deferred Tax 20.000 12.500 5.000 Total Non-Current Liabilities 50,000 27.500 10.000 Current Liabilities Trade Payables 32,500 12,500 10,000 Tax payables 12.500 6.000 3.250 Total Current Liabilities 45.000 18.500 13.250 Total Equity & Liabilities 415,000 148,000 103,250 Additional information: . The number of ordinary shares of the three companies are as follows: Sayang Bhd 150,000,000 units Bayang Bhd 50,000,000 units Dayang. Bhd 50,000,000 units III. Sayang Bhd acquired 80% of the equity shares of Bayang Bhd on 1 January 2021for RM57,500,000 when the retained profits and other reserves of Bayang Bhd stood at RM5,000,000 and RM2,500,000 respectively. At the date of acquisition, the fair value of the net assets was RM70,000,000. The excess of the fair value over the net assets is due to an increase in the value of freehold land of the company. The fair value of one ordinary share of Bayang Bhd on 1 January 2021 and 31 December 2021 were RM1.50 and RM2.50 respectively. On 1 January 2021, Bayang Bhd acquired 90% Dayang. Bhd when the retained profits and other reserves of Dayang Bhd stood at RM10,000,000 and RM2,500,000 respectively. The values of... Dayang Bhd's share at the date of acquisition was at RM1.32 per unit. iv. V. vi. vii. On the date of acquisition, the fair value of Dayang Bhd's net assets were approximately equal to their carrying amounts with the exception of a piece of property. The property had a fair value of RM2,500,000 in excess of the carrying amount and this would create an additional depreciation of RM500,000 in the post- acquisition period to 31 December 2021. The fair values have not been reflected in the books of Dayang Bhd. During the year 2021, Dayang Bhd sold goods to Sayang Bhd for RM7,500,000 in the post-acquisition period at cost plus 20%. Half of the goods still remained unsold as at year end. The intellectual property is a software package designed for specific use in Sayang Bhd's accounting system. The company has been advised to write off the intellectual property due to recent cases of internet hacking. Any impairment test conducted on 31 December 2021 revealed that only goodwill of Dayang Bhd was impaired by RM600,000 viii. On 1 December 2021, all the three companies declared a final dividend of RM0.10 per share which has not been provided. The trade receivables of Dayang. Bhd include RM1,000,000 due from Sayang Bhd. Sayang Bhd has remitted RM500,000 on 22 December 2021 but this remittance has not been received by Dayang Bhd as at 31 December 2021. ix. X. Required: It is the group policy to value the non-controlling interest at fair value. Calculate controlling interest, goodwill and schedules of reserves for the year ended 31 December 2021. Show your workings. (25 marks)