(c) On 1 January 2019, Sarabande Berhad acquired a 100% equity interest in an overseas subsidiary, Gigue Limited for a cash consideration of RM418,000. On the date of acquisition, the share capital of Gigue Limited consists of 1,140,000 ordinary shares of D$1 each and the retained profits were D$129,200. Sarabande Berhad is using the closing rate method to translate the financial statements of the foreign subsidiary. The foreign currency rates were as below: 1 January 2019 Average for the year to 31 December 2019 31 December 2019 D$ to RM1 4.6350 4.3340 4.1980 The following were the financial statements of the foreign company: Gigue Limited Statement of Financial Position as at 31 December 2019 Property, plant & equipment, at cost Less: Accumulated depreciation Current assets Inventories Monetary assets D$'000 2,970.00 (445.50) 2,569.60 3,080.00 D$'000 2,524.50 Less: Current liabilities Payables and accruals Net current assets Share capital of RM1/D$1 each Pre-acquisition profits Profit for the year 5,649.60 1,980.00 1,980.00 Gigue Limited Statement of Profit or Loss and Movements in Retained Profits for the year ended 31 December 2019 3,669.60 6,194.10 3,300.00 220.00 2,674.10 6.194.10 D$'000 Sales D$'000 5,500.00 Cost of goods sold Opening inventories 660.00 Purchases 2,640.00 3,300.00 Less: Closing inventories (2,200.00) (1,100.00) Gross profit 4,400.00 Less: Expenses Depreciation 148.50 Administration and other expenses 990.00 (1,138.50) Net profit before taxation 3,261.50 Less: Taxation (587.40) Net profit after taxation Movements in Retained Profits Profit for the year Pre-acquisition profit 2,674.10 2,674.10 220.00 2,894.10 Post-acquisition profits c/f Required: (i) Translate the Statement of Profit or Loss and Other Comprehensive Income and Movements in Retained Profits of Gigue Limited for consolidation purpose. (4.5 marks) (ii) Translate the Statement of Financial Position of Gigue Limited for (4.5 marks) [Total: 25 Marks] consolidation purpose