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Additional information 1) On January 1, 2020, Solar had given a loan of Tk 150,000 to Prime none of which has been paid back to
Additional information 1) On January 1, 2020, Solar had given a loan of Tk 150,000 to Prime none of which has been paid back to date. Solar earned Tk. 6,000 in interest on the loan, which has been reported as investment income. Prime recorded an interest expense of the same amount in its book. 2) Prime and Solar regularly trades goods between themselves. During 2020 Prime sold goods of Tk 270,000 to Solar and purchased goods of Tk. 230,000 from Solar. None of these goods remained in the ending inventory of Prime and Solar at year end since they were all sold to third party before December 31, 2020, with at least 25% mark up. 3) Ignore the effects of necessary adjustments on income tax. Required Prepare consolidated financial statements on behalf of the parent company for the year ended December 31, 2020 Keep the format of the statements as provided by the accountants of Prime and Solar as presented in the question. Show all your workings in details
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