Case 6: Practices in Consolidation (20 marks)

Happy Co. has owned 80% of the share captial of Good Co. since the date of Good Co's incorporation. You are provided the following information from their latest balance sheets:

(1) In Happy's statement, there is an asset account showing "80,000 $1 ordinary shares in Good Co. at cost: $ 80,000".

(2) In Happy's statement, there is an equity account showing "$1 ordinary shares: $250,000". (3) In Happy's statement, there is an equity accounting showing "Retained profits: $60,000". (4) In Good' statement, there is an equity account showing: "$1 ordinary shares: $100,000".

(5) In Good's statement, there is an equity account showing: "Retained profits: $30,000".

Required to calculate the following items in the consolidated statement of financial position: (1) Non-controlling interests; (10 marks) (2) Equity attributed to Happy. (10 marks)