6 The following accounts are the consolidated statement of financial position and parent company state- ment of financial potion for Alpha Ltd as at 30 June 2000 Consolidated Parent compony statement of financial position C Ordinary shares 140,000 140,000 Capital reserve 92.400 92,400 Retained earnings 79.384 35,280 Non-controlling interest 12.329 324613 267.680 Non-current assets Property Plant and equipment Goodwill Investment in 127,400 84,000 62720 50.400 85.680 151,200 subsidary (50.400 shares) Current assets Inventory 121604 71.120 Trade receivables 70.429 51.800 Cash at bank 24360 216.393 122.920 Current liabilities Trade payables 140420 80920 Income tax 27.160 20.720 Bank overdraft 39.200 167580 140.840 Working capital 48813 324613 17.920) 267,680 564 - Consolidated accounts Notes There was only one subsidiary called Beta Ltd (There were no capital reserves in the subsidary Alpha produced inventory for sale to the subsidiary at a cost of 3.360 in May 2002. The inventory was invoiced to the subsidary 4200 and was still on hand at the subsidary's warehouse on 30 June 20X2. The invoice had not been settled at 30 June 20x2 (v) The retained earnings of the subsidiary had a credit balance of 16.800 at the date of acquisition No fair value adjustments were necessary. (v) There was a right of set-off between overdrafts and bank balances (vi) The parent owns 90% of the subsidary Required: (a) Prepare the statement of financial position as at 30 June 20X2 of the subsidiary company from the information given above. The non-controlling interest is measured using method 1. (b) Discuss briefly the main reasons for the publication of consolidated accounts