A Remaining Time: 1 hour, 55 minutes, 23 seconds. Question Completion Status: QUESTION 8 20 points Savy An On 1 January 2016 Parent plc acquired 80% of the equity shares in Subsid pic for 72,000 to gain control. The retained eamings as at 1 January 2016 were 9,600. The fair value of the land in Subid plc was 3,000 above book value. During the year Parent pic sold some of its inventory to Subaid pic for 8,400, which represented cost plus a mark-up of 40% 80% of these goods are still in the inventory of Subsid pic at 31 December 2016 The statements of financial position of the two companies as at 31 December 2016 are shown below. Non-Current Assets Investment in Subsid pic Parent plc 50,000 72,000 Subsid pic 63,000 Current Assets Inventories 3,800 9,600 Current Account with Subsid pic 19,200 Other Current Assets 9,600 32,400 Current Liabilities Current Account with Parent plc 19,200 Other Current Liabilities 25,000 15,000 Net Current Assets 7,600 7,800 Net Assets 129,600 70,800 Required: Equity Share Capital Retained Earings Total Equity 57,600 50,400 72,000 20,400 129,600 70,000 Prepare a consolidated statement of position as at 31 December 2016; using the worksheet (consolidated statement of financial position) provided below. Please show your workings. (20 Marks). Click Save and Submit to save and it Click Save All Antall ans Save and Submit Bena