Asset plc and Liability Limited prepare their financial statements to 31 December each year. Extracts from their 2018 financial statements are shown below: Statements of Financial Position as at 31 December 2018 Asset plc Liability Limited 000 000 Assets Non-current assets Property, plant and equipment 17,160 7,640 Investment in Liability Limited _7,120 - 24,280 7,640 Current assets Inventories 2,800 1,220 Trade receivables 1,960 1,400 Cash __420 180 Total Assets 29,460 10,440 Equity and Liabilities Share capital - 1 ordinary shares 12,000 5,000 Share premium 2,000 600 Retained earnings 12,880 1,840 26,880 7,440 Non-current Liabilities 5% debentures - 2,000 Current Liabilities Trade payables 2,580 1,000 Total Equity and Liabilities 29,460 10,440 Additional Information: 1. Asset plc purchased 70% of Liability Limited on 1 January 2018 when the balance on Liability Limiteds retained earnings was 1,560,000. 2. Included in trade receivables of Asset plc are amounts owed by Liability Limited of 100,000. Liability Limiteds payables include 100,000 due to Asset plc. 3. At the date of acquisition, the fair value of Liability Limiteds property was 400,000 higher than the book value. 4. At the 31 December 2018, the inventory of Liability Limited includes goods it has purchased from Asset plc for 300,000. Asset plc sets its prices at cost plus 25%. One half of these goods are still in inventory at 31 December 2018. 5. Goodwill arising on the acquisition of Liability Limited has not been impaired.