500 Chapter 3 The statements of financial position of H Ltd and S Ltd at 31 December 20*2 are as follows: H Ltd S Ltd $000 $000 $000 $000 Non-current assets 3,000 2,300 Shares in S Ltd 3,000 Current assets Inventory 1,000 1,200 Trade receivables 600 Current account with H Ltd 180 Cash 200 120 1,700 2,100 Current liabilities Trade payables (630) (250) Current account with S Ltd (100) Dividend payable (300) (300) 670 1,550 Total net assets 6,670 3,850 Ordinary share capital 5,000 2,500 Retained earnings 1,670 1,350 Total equity 6,670 3.850 The following information is also available: (a) H Ltd acquired 80% of the shares of S Ltd on 1 Jan. 20*2 when the retained earnings of S Ltd were $1,000,000. (bOn 30 Dec. 20*2, H Ltd sent a cheque to $ Ltd for $50,000. This was not received by S Ltd until 2 Jan. 20*3. (c) On 31 Dec. 20*2, there were goods in transit sent by S Ltd to H Ltd valued at $30,000. (d) H Ltd has not incorporated any entries relating to the dividend receivable from S Ltd for 20*2. (e) 10% of the goodwill is to be written off as an impairment loss. Required: Prepare a consolidated statement of financial position for H Ltd at 31 Dec. 20*2