CONSOUDATED STATEMENT OF PROFT OR LOSS AND OTHER COMPREAENSIVE FOR THE YEAR ENDED 31 DECEMBER 2022 The following additional information has already been taiken into account in the financial statements above: 1. Included in other expenses in the consolidated profit before tax af the Greentam ttd group are the following: - Depreciation on plant and equipment NS480000 - Unrealised exchange 5 oin on foreign debtors (NS127 000) - Realised exchange loss on fong term loan N\$115000 - Profit on sale of plant and equipment NS280 2. Investment in forestry t td GreenNam Ltd acquired 100000 shares in Fotestry ttd on 2 January 2021 for a caih amount of N5 110000 when the equity of Forestry was as follows: - Share Capital (1000 000 shares) N$1000000 - Retained earnings N\$100000 GreenNam Ltd purchased another 500000 shares in Ballet Ld for a cash amount of N51225000 on 1 January 2022. On this date, GreenNam obtained control over Ballet Ld. The fair value of the plant and equipment (the only asset of Forestry Ltd) was N\$S2500000 on that date. 3. Investment in Plantation Ltd GreenNam acquired a 60% interest in Plantation Ltd on 1 hanuary 2021. On this date, GreenNam obtained control over Plantation. No goodwill arose at acquisition. GreenNam Ltd sold its entire interest in Plantatisn on 1 October 2022 for NS1 366920 . On this date, GreenNam lost control over Plantation Ltd. Particulars of the net assets of Plantation Ltd on 10 ctober 2022 were as follows: - Plant and Equipment N\$ 1814 - Trade recetvables N\$ 907200 - Inventory N$500 - Trade Payables (NS393 000) 4. Interest earned on an investment amounted to NS146 900 for the year and is included in othet expenses. Included in finance cost is an amount of N$14300 which was still outstanding on 31 December 2022 5. GreenNam Ltd declared a dividend of N541 250 for the year ended 31 December 2022 6. The short-term portion of long-term leans included in short-term loans was N$7704 (2021 NS14701) 7. No land and buildings were purchased or sold during the year. Plant and Equipment with a cost price of N52 000 and a carrying amount of NS709 was sold for N5989 during the current year, it is estimated that N\$12 000 of the current year's purchases of property, plant and equipment were incurred to expand activities. 8. Cash flows from dividends and interest paid and recelved are classified as operating activaties 9. It may be assumed that no impairment of goodwill took place. Required prepare the consolidated statement of caslufiows of the GreenNam Ld Group for the ycekeded 91 December 2022 according to the dirnctmethod. Communication skilis: Presentation and byout ( 1 mark) END OF QUESTION PAPER Question 2 GreenNam Ltd (GreenNam) is a Namibian compinylisted on the Namibian Stock Exchange, incorporated in 2001 and is a retailer of medicinal products. The company has interests in various subsidiaries and has a 31 December vear end. The group accountant of GreenNam, Mary lane, has requested you to assist in the finalisation of the preparation of the consolidated statement of Cash flows for the GreenNam Lid Group for the year ended. The following information relates to the GreenKam Ltd Group GreenNam LTD GROUP Norman limited is a business that manufactures a variety of products based in Windhoek, Nairobi. One of the products of the company is high quality fil projectors for cinemas. When the business began several years ago, Norman purchased two machines used in the manufacture of the film projectors. However, in the current financial year ending 30th September 2023, due to an increase in demand for its other more profitable products, the management of Morman limited decided to reduce the output of the projectors to enable more focus to be placed on growing other manufacturing areas within their business. In August 2023, management decided to sell one of the film projectors manufacturing machines. The machine meets all the requirements of IFRS 5 - Noncurrent assets held for sale. Due to the intentional scaling back of the manufacturing output of projectors, this machine is currently operating below its capacity producing 100 projectors a month. When using IFRS 13 income approach, to measure the machines fair value, the accountant is unsure whether to base the measurement on the current actual production of 100 projectors a month or on a production of the full potential capacity of 150 projectors per month. Fair value based on current production N\$ 10,000 000 . Fair value based on the full potential production NS 12.000000