Gaya Sdn Bhd has investments in two companies, Senang Sdn Bhd and Cergas Sdn Bhd, and recognises goodwill and non-controlling interest using the proportionate method. The draft summarised statements of financial position of the three companies at 31 December 2021 are shown below ASSETS Gaya Sdn Bhd Senang Sdn Cergas Sdn Bhd Bhd RM RM RM Non-current assets Property, plant and equipment 1,324,000 474,000 335.000 Investments 1,120,000 2.444,000 474.000 335.000 Current assets 344,000 159,400 135.300 Inventories Trade and other receivables 295,600 131.000 129,400 Cash and cash equivalents 14.200 3.200 1,800 653,800 293,600 266.500 Total assets 3,097.800 767,600 601.500 EQUITY AND LIABILITIES Equity Time left 3:39 Ordinary share capital 1,600,000 300,000 200,000 Retained earnings 561,800 89,700 45,600 2,161,800 389,700 245,600 Current liabilities Trade and other payables 576,000 240,900 231,900 Current tax payable 360,000 137,000 124,000 936.000 377,900 355,900 Total equity and liabilities 3,097,800 767,600 601,500 Additional information: Senang Sdn Cergas Sdn Bhd Bhd RM RM Date of acquisition Percentage of ordinary shares acquired Consideration Retained earnings at date of acquisition Goodwill impairment on 31 December 2020 Goodwill impairment on 31 December 2021 1 January 2016 1 January 2021 70% 580,000 42,400 32.000 80% 540,000 20,000 10,000 (1) At the date of acquisition, the fair values of the assets and liabilities of Senang Sdn Bhd and Cergas Sdn Bhd were equal to their carrying amounts, with one exception. Cergas Sdn Bhd has an internally generated brand that was not recognised in its financial statements. However, an independent expert valued this brand at RM80,000, with a useful life of five years, at the date of acquisition of Cergas Sdn Bhd by Gaya Sdn Bhd. (2) On 1 January 2021, Gaya Sdn Bhd sold a machine to Senang Sdn Bhd for RM150,000. On that date, the machine had a remaining useful life of five years and a carrying amount of RM100,000. Required: (a) Prepare the consolidated statement of financial position of Gaya Sdn Bhd as at 31 December 2021. (20 marks) (b) Explain the differences between MFRS/IFRS and UK GAAP regarding financial reporting for the disposal of subsidiary, goodwill and non-controlling interest (5 marks)