ASSESSMENT 01 (25 marks) Prospectus Ltd acquired \70 of the shares in Ried Ltd on 1 March 2022. Both companies manufacture spare parts for motor vehicles. Below is an extract from the financial statements of these companies for the year ended 28 February 2023. Additional information 1. On acquisition date, Ried Ltd's other components of equity amounted to R 100000 . The carrying amount of Ried Ltd's assets and liabilities were deemed equal to the fair value thereof on this date. Each share of Ried Ltd carries one vote and voting rights alone determine control. It is group policy to show goodwill at cost less impairment in the consolidated financial statements. Goodwill was not impaired during the current year. The issued share capital of both companies remained unchanged since acquisition. 2. Dividends received is included in other income. 3. You may assume that current year profit in Ried Ltd amounts to R3 312800 . ASSESSMENT 01 (First semester) (continued) REQUIRED