(a) Explain the circumstances in which bargain purchase may arise. (5 marks) (b) Explain why consolidated financial statements are useful to the users of financial statements (as opposed to just the parent company's separate (entity) financial statements). (5 marks) (c) Bee Berhad (Bee) acquired 80% of the 400,000 RM1 equity shares of Tom Berhad (Tom) on 1 January 2021. The consideration consisted of one Bee share for every two shares in Tom and RM1,200,000 cash. The market price of a Bee share on 1 January 2021 was RM2.50 and the market price of a Tom share on the same date was RM1.75. Bee measures non-controlling interest at fair value based on the share price. At the acquisition date, Tom had retained earnings of RM340,000 and RM400,000 in revaluation surplus. Its head office building had a fair value of RM240,000 in excess of its carrying amount. During the year to 31 December 2021 Tom sold goods to Bee for RM80,000. Bee had resold 40% of these goods by the year-end. Tom applies a 25% mark-up on all sales. Required: (i) Calculate the goodwill on the date of acquisition. (4 marks) (ii) Calculate the unrealised profit amount which will be deducted from the group retained earnings of Bee as at 31 December 2021. (2 marks)