Base plc acquired 60% of the common shares of Ball plc on 1 January 20X0 and gained control. At that date the statements of financial position of the two companies were as follows:

Note: The fair value of the property, plant and equipment in Ball at 1/1/20X0 was 120,000. The fair value of the non-controlling interest in Ball at 1/1/20X0 was 55,000. The fair value method should be used to measure the non-controlling interest.

Required:

Prepare a consolidated statement of financial position for Base as at 1 January 20X0.

Base 000 Ball 000 250 100 90 100 ASSETS Non-current assets Property, plant and equipment Investment in Ball Current assets Total assets EQUITY AND LIABILITIES Capital and reserves Share capital Share premium Retained earnings 70 170 440 200 160 360 80 440 80 20 10 110 60 170 Current liabilities Total equity and liabilities