FICO Task 2 - May 5th 2022 Exercise 1 (5 points) Holding Company A has control on dependent B through acquisition of shares (80%) on Jan 1st X1. A paid 5.000 for B shares. At that time, B had the following Net Equity: Capital Share 2.000; Reserves 2.000. In X3 A sold on credit, to B, inventory for 400 that contains a margin of 50. 40% of the inventory has been sold from B to an external company by the end of X3. As of Dec 31st, X3 A had paid 50% if his debt to A related to this transaction. During X4, B sells 25% of all the inventory purchased initially to A to a third company, and, as of Dec 31st X4, there nothing pending to be paid between A & B. Net Equity of B at the end of X3 & X4 X3: Capital Share 2.000; Reserves 3.000; Result 500 X4: Capital Share 2.000; Reserves 3.500; Result 200 Prepare de elimination entries X3 and X4 required for group Consolidated Financial Statements