Below are the summarized statements of financial position for three companies as at March 31, 2020 Peter Sandra Anthony Sm Sm Sm Assets Non-current assets Property, plant & equipment 520 280 240 Investments 345 4 865 320 240 Current assets Inventory 142 160 120 Trade receivables 95 88 50 Cash and bank 8 245 22 270 10 180 Total assets 1.110 590 420 Equity and liabilities Equity shares of $1 each 500 145 100 Share premium 100 Nil NI Retained earnings 230 26020 240 Non-current assets 10% loan notes 180 NI Current liabilities 200 165 80 Total equity and liabilities 1110 599 4 Notes: Peter is a public listed company that acquired the following investments: 1. Investment in Sandra. On April 1, 2018, Peter acquired 116 milion shares in Sandra for an immediate cash payment of $210 million and issued at par one 10% $100 loan note for every 200 shares acquired. Sandra's retained eamings at the date of acquisition were $120 million 2. Investment in Anthony On October 1, 2019, Peter acquired 30 million shares in Anthony in exchange for 75 million of its own shares. The stock market value of Peter's shares at the date of this share exchange was $1.50 each. Peter has not yet recorded the investment in Anthony 3. Peter's other investments, and those of Sandra, are available for sale investments which are carried at their fair values as at March 31, 2019. The fair value of these investments on March 31, 2020, is $82 million and $37 milion respectively Other relevant information: 4. Peter's policy is to value non controlling interest at their values. The directors of Peter assessed the fair value of the non-controlling interest in Sandra at the date of acquisition to be $65 million 5. There has been no impairment to goodwill or the value of the investment in Anthony At the date of acquisition Sandra owned a recently built property that was carried at its (depreciated construction cost of $62 million. The fair value of this property at the date of acquisition was $2 million and it had an estimated remaining life of 20 years. For many years Sandra has been selling some of its products under the brand name of "San". At the date of acquisition, the directors of Peter valued this brand at $25 milion with a remaining life of 10 years. The brand is not included in Sandra's statement of financial position. The fair value of all other identifiable assets and liabilities of Sandra were equal to their carrying values at the date of its acquisition 6. The inventory of Sandra on March 31, 2020, includes goods supplied by Peter for $56 million at selling price from Peter Peter adds a markup of 40% on cost when selling goods to Sandra There are no intro group receivables or payables on March 31, 2020. 7. Anthony's profit is subject to seasonal variations. Its profit for the year ended March 31, 2020, was $100 million $20 milion of this profit was made from April 1. 2018 to September 30, 2019. & None of the companies have paid any Gividends for many years. Required Prepare the consolidated statement of financial position of the Peter Group as at March 31, 2020 in accordance with IAS 1 PLEASE SHOW YOUR WORKINGS