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Foot acquired 150,000 of the issued ordinary shares and 60,000 of the issued preferred shares of Step (its own subsidiary) on 31st August 20X3. The
Foot acquired 150,000 of the issued ordinary shares and 60,000 of the issued preferred shares of Step (its own subsidiary) on 31st August 20X3. The balance sheets of the two entities at 31 August 20X3 showed the following. Foot Step $'000 $'000 Ordinary shares of $1 500 250 Preferred shares of $1 100 150 Retained earnings 250 170 850 570 Required What is the minority interest that will appear in the consolidated balance sheet of Foot at 31 August 20X3?
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