a) Mama purchased 80% of Papa's equity on 1 January 2018 for 280,000 when Papa's retained earnings were 70,000. The fair value of the non-controlling interest on that date was 40,000. During the year, Mama sold goods to Pappa at a price of 120,000, achieving a profit margin of 25%. Pappa had 40% of the goods still in inventory at the year-end. The two companies' draft statements of financial position were as follows: Statements of financial position on 31st December 2018 Pappa Mama Non-current assets: Property, plant and equipment (net) 240,000 180,000 Investment in Pappa 280,000 Current assets: Inventory Trade receivables: 165,000 95,000 From Pappa 8,000 Other receivables 20,000 30,000 Bank 60,000 40,000 Total assets 773,000 345,000 Equity and liabilities: Equity: Share capital 350,000 180,000 Retained earnings 265,000 120,000 Non-current liabilities: Long-term loan 80,000 20,000 Current liabilities: Trade payable: To Mama Other payables Total equity and liabilities Required 8,000 78,000 17,000 773,000 345,000 ii. iii. i. Calculate the amount of goodwill in the consolidated statement of financial position of Mama Group on 31st December 2018 (5 marks) Calculate the amount of retained earnings in the consolidated statement of financial position of Mama Group on 31st December 2018 (4 marks) Calculate the amount of non-controlling interest that will appear in the consolidated statement of financial position of Mama Group on 31st December 2018 (3 marks)