cup ltd is a chinaware producing company in which found itsel with free cash flow two years ago and decided to diversify and not keep its eggs in one basket as advised ny mr know it all , the firm's finance manager. cup ltd decided to purchase share in other entities . cup ltd acquires 80% of the share in Tea ltd 2 years ago ,when the retained earnings of tea ltd stood at n$ 125 000. cup ltd paid an initial cash consideration of 1 million. additional cup ltd issur 200 000 shares with a nominal value of n$ 1 each at market value of n$ 1.80 each. it was also agreed that cup ltd would part with a further n$ 500 000in 3 years time . current interest rates are 10% per annum. the shares and deferred consideration have not yet been recorded. on the sate of acquisition the fair values of tea ltd property plant and equipment exceeded their carrying by n$ 200 000 . they have remain useful life of 5 years at this date 1/5 of goodwill has been writenn off. for many years tea has been selling some of its product under the brand name quality tea . at acquisition date the director of tea ltd valued this brand at n$ 250 000 with aremaining useful lif of 10 years . the brand is not in the statement of financial position of tea ltd. the consolidated goodwill has been impared by n$ 258 000. the tea ltd group value non-controlling interest using fair value method , at acquisition value the fair value of the 20% non-controlling interest was n$ 380 000.

non current asset 6500 1500

cup ltd tea ltd

investment in tltd at cost 1000 0

ppe 5500 1500

current assets 1150 350

inventories 550 100

trade receivables 400 200

cash and cash equivalents 200 50

total assets 7650 1850

equity and liabilities

total equity 3400 800

share capiral 2000 500

retained earnings (31/12/2018) 1400 300

liabilities 4250 1050

non-current liabilities 3000 400

current liabilities 1250 650

total equity and liabilities 7650 1850

prepare consolidation statemenet of financial position for cup ltd group