4 Jaya Berhad has many investments, but before 2021 none of these investments met the criteria for consolidation as a subsidiary. One of these older investments was a RM250 million, 12% loan to Cahaya Berhad which was made in 2015 and is not due to be repaid until 2023. On 1st November 2021, Jaya purchased 70% of the equity of Cahaya for RM500 million. The consideration was 50 million equity shares in Jaya with a fair value of RM500million. Noted below are the income statements and movement in retained earnings for Jaya and its subsidiary Cahaya for the year ending 31 December 2021 along with the statements of financial position as at 31 December 2021. Statement of Comprehensive Income for the Year Ended 31 December 2021 Jaya RM'million Cahaya RM'million Revenue 10,000 Cost of sales (5,600) 986 (258) Gross Profit 4,400 728 Interest on loan to Cahaya 30 Other Investment Income 580 Other Operating expenses Finance Costs (3,830) (576) (30) Profit before tax Income Tax Expenses Profit for the year 1,180 122 (545) (26) 635 ...4/- 96 Opening retained earnings 850 Profit for the year 635 Dividends paid Closing retained earnings (335) 1,150 Statement of Financial Position as at 31 December 2021 Assets Non-current assets Property, plant and equipment Loan to Cahaya Other Investments Current assets Total assets Equity and liabilities Equity shares Retained earnings Non-current liabilities Loan from Jaya Current liabilities Total equity and liabilities Jaya RM'million 503 96 599 Cahaya RM'million 773 650 250 600 1,623 650 800 366 2,423 1,016 293 100 1,150 599 1,443 699 250 980 2,423 67 1,016 Other information included: i. Jaya has not accounted for the issue of its own shares for the acquisition of the investment in Cahaya. ii. There has been no impairment in the value of the goodwill. iii. It is the group policy to value the non-controlling interest at acquisition at its proportionate share of the fair value of the subsidiary's identifiable net assets. Required: Prepare the statement of financial position for the Jaya Group for the year-ending 31 December 2021. Show all detailed workings. (15 marks)