Bull plc acquired 80% of the issued share capital of bear Ltd on 1 January 2018 for 4,600, 000. At that date Bear Ltd had issued share capital of 3,000, 000 and retained earnings of 840, 000.

The summarised statements of financial position of the two companies one year later at 31^st December 2018 are as follows:

Statements of financial position as at 31^st December 2018

	Bull plc	Bear Ltd
	000	000
Assets
Investment in Bear Ltd	4,600
Non-current assets	7,500	4,590
Current assets	3,800	1,570
Total assets	15,900	6,160
Total equity and liabilities
Equity
Share capital	5,000	3,000
Retained earnings	7,800	1,510
Total equity	12,800	4,510
Non-current liabilities	1,000	750
Current liabilities	2,100	900
Total liabilities	3,100	1,650
Total equity and liabilities	15,900	6,160

Additional data

The fair value of non-current assets of Bear Ltd at 1 January 2018 was 4,200, 000. The book value of the non-current assets was 3,900, 000. The revaluation has not been recorded in the books of Bear Ltd. (ignore any effects of depreciation for the year)

The directors of Bull plc have decided that non-controlling interest be valued at their proportionate share of Bears net assets.

a.Draft a consolidated statement of financial position for Bull plc and its subsidiary as at 31^st December 2018.