acquired 40% of the 40 million equity shares in Abena payingGhs2 per share, The purchased 80% of the equity shares in Rosemary. On the same date Ike The statement of profit or loss for the year ended 30 September 2019 are: Ike Rosemary Abena $000 $000 $000 190,000 130,000 45,000 (116,000) (90,000) (35,000) Revenue Cost of sales Gross profit Distribution costs Administrative expenses 74,000 (10,200) Investment income interest and dividends) 8,500 (16,300) (1,650) 40,000 (5,000) (7.000) 10,000 (4,000) (10,000) Finance costs (2,000) Nil Profit (loss) before tax Income tax (expense) relief 54,350 (15,000) 26,000 (10,000) (4,000) 1,000 (3,000) Profit (loss) for the year 39,350 16,000 The following information is relevant: The fair values of the net assets of Rosemary at the date of acquisition were equal to their carrying amounts with the exception of an item of plant which had a carrying amount of Ghsil million and a fair value of Ghs15 million. This plant had a remaining life of five years (straight-line depreciation) at the date of acquisition of Rosemary. All depreciation ischarged to cost of sales, The fair value of the plant has not been reflected in Rosemary's financial statements. No fair value adjustments were required on the acquisition of the investment in Abena. (ii) Immediately after its acquisition of Rosemary, Ike invested Ghs45 million in an 7% loan note from Rosemary. All interest accruing to 30 September 2019 has been accounted for by both entities. Rosemary also has other loans in issue at 30 September 2019. Rosemary paid a dividend of Ghs7 million during the year. After the acquisition, Ike sold goods to Rosemary forGhs13 million on which Ike made a gross profit of 18%. Rosemary had one third of these goods still in its inventory at 30 September 2019. Ike also sold goods to Abena for Ghs4 million, (iii) (iv) 5 vi) making the same margin. Abena had half of these goods still in inventory at 30 September 2019. The non-controlling interest in Rosemary is to be valued at its (full) fair value at the date of acquisition The goodwill of Rosemary has been impaired by Gh1.5 million at 30 September 2019. Due to its losses, the value of Ike's investment in Abena has been impaired by Ghs2.5 million at 30 September 2019. All items in the above statement of profit or loss are deemed to accrue evenly over the year unless otherwise indicated. vii) uired: a) Calculate the carrying amount of the investment in Abena to be included within the consolidated statement of financial position as at 30 September 2019. b) Prepare the consolidated statement of profit or loss for the Ike Group for the year ended 30 September 2019. Good Luck!!! acquired 40% of the 40 million equity shares in Abena payingGhs2 per share, The purchased 80% of the equity shares in Rosemary. On the same date Ike The statement of profit or loss for the year ended 30 September 2019 are: Ike Rosemary Abena $000 $000 $000 190,000 130,000 45,000 (116,000) (90,000) (35,000) Revenue Cost of sales Gross profit Distribution costs Administrative expenses 74,000 (10,200) Investment income interest and dividends) 8,500 (16,300) (1,650) 40,000 (5,000) (7.000) 10,000 (4,000) (10,000) Finance costs (2,000) Nil Profit (loss) before tax Income tax (expense) relief 54,350 (15,000) 26,000 (10,000) (4,000) 1,000 (3,000) Profit (loss) for the year 39,350 16,000 The following information is relevant: The fair values of the net assets of Rosemary at the date of acquisition were equal to their carrying amounts with the exception of an item of plant which had a carrying amount of Ghsil million and a fair value of Ghs15 million. This plant had a remaining life of five years (straight-line depreciation) at the date of acquisition of Rosemary. All depreciation ischarged to cost of sales, The fair value of the plant has not been reflected in Rosemary's financial statements. No fair value adjustments were required on the acquisition of the investment in Abena. (ii) Immediately after its acquisition of Rosemary, Ike invested Ghs45 million in an 7% loan note from Rosemary. All interest accruing to 30 September 2019 has been accounted for by both entities. Rosemary also has other loans in issue at 30 September 2019. Rosemary paid a dividend of Ghs7 million during the year. After the acquisition, Ike sold goods to Rosemary forGhs13 million on which Ike made a gross profit of 18%. Rosemary had one third of these goods still in its inventory at 30 September 2019. Ike also sold goods to Abena for Ghs4 million, (iii) (iv) 5 vi) making the same margin. Abena had half of these goods still in inventory at 30 September 2019. The non-controlling interest in Rosemary is to be valued at its (full) fair value at the date of acquisition The goodwill of Rosemary has been impaired by Gh1.5 million at 30 September 2019. Due to its losses, the value of Ike's investment in Abena has been impaired by Ghs2.5 million at 30 September 2019. All items in the above statement of profit or loss are deemed to accrue evenly over the year unless otherwise indicated. vii) uired: a) Calculate the carrying amount of the investment in Abena to be included within the consolidated statement of financial position as at 30 September 2019. b) Prepare the consolidated statement of profit or loss for the Ike Group for the year ended 30 September 2019. Good Luck