Accounting questions

On 1 January 2016, SOA Bhd acquired 90% interest in FPK Bhd. At that time, retained profits of FPK Bhd was RM1,000,000 and the remaining 10% non-controlling interest was measured at fair value as RM580,000. On the same date, FPK Bhd acquired 80% interest in BEC Bhd at a cost of RM2,600,000. At this acquisition date, BEC Bhd's retained profits was RM600,000 and the remaining 20% non-controlling interest was measured at fair value as RM700,000. On 1 April 2018, SOA Bhd acquired 10% in BEC Bhd for RM980,000. The following are financial statements provided by SOA Bhd and its subsidiaries: Statement of Comprehensive Income For the year ended 31 December 2018 SOA Bhd FPK Bhd BEC Bhd RM'000 RM'000 RM'000 Sales 5,200 3,550 3,800 Cost of goods sold 2,500) (1,000) 1,900) Gross profit 2,700 2,550 1.900 Less: Operating expenses (450) (450) (500) Profit before taxation 2,250 2.100 .400 Less: Taxation (1,060 980 (400) Profit after taxation 1,190 1,120 1,000 Retained profit, 1/1/18 2,300 2,100 800 Retained profit, 31/12/18 3,490 3.220 1,800 Statement of Financial Position As at 31 December 2018 SOA Bhd FPK Bhd BEC Bhd RM'000 RM'000 RM'000 Investment, at cost: Shares in FPK Bhd 4,500 Shares in BEC Bhd 980 2,600 Other assets 4,880 4,480 5,000 10,360 7,080 5.000 Financed by: Ordinary share (RM1 each) 4,000 3,000 2,500 Retained profit 3,490 3,220 1,800 Other Liabilities 2,870 860 700 10.360 7.080 5,000 Additional information: 1. FPK Bhd started selling goods to SOA Bhd in January 2018. During the year, FPK Bhd sold goods to SOA Bhd for RM400,000. At year end RM150,000 of the goods remained in the closing stock of SOA Bhd. The profit margin is 20% on selling price. 2. On 1 January 2017, SOA Bhd transferred a machinery with a net book value of RM300,000 to BEC Bhd. The transfer price was RM450,000 and the machine had a remaining useful life of 3 years as at the date of the transfer. 3 Tax effects on unrealized profit or loss on inter-company transactions should be ignored. 4 . Assume revenue accrued evenly throughout the year. 5 . There are no changes in the share capital account of all the companies in the group. 6. The group used the fair value method to record the non-controlling interest for FPK Bid and the proportionate share of net identifiable assets method to record the non-controlling interest for BEC Bhd. REQUIRED: (a) Record all the consolidation journal entries of SOA Bhd and its subsidiaries for the year ended 31 December 2018 using one-stage method. (b) Prepare the Consolidated Statement of Profit or Loss and Other Comprehensive Income of SOA Bhd and its subsidiaries for the year ended 31 December 2018. (c) Prepare the Consolidated Statement of Changes in Equity of SOA Bhd and its subsidiaries for the year ended 31 December 2018