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Given below are the statements of financial position of May and Park as at 31 December x7. May RM'000 800 Park RM'000 700,000 Ordinary

Given below are the statements of financial position of May and Park as at 31 December x7. May RM'000 800 Park RM'000 700,000 Ordinary shares 150,000 Ordinary shares 100,000 Redeemable preference shares Retained profit 1 January x7 Profit for the year 10% debentures 230 100 50 40 30 50 100 510 890 Investments in Park at cost -Ordinary shares -Redeemable preference shares -RM45,000 10% debentures Sundry net assets 135 30 45 680 890 510 510 Additional information: a) May acquired the shares and debentures in Park on 1 January x7. The consideration transferred was as follows: Financial assets acquired Consideration Cash Ordinary shares in May RM 135,000 135,000 ordinary shares 30,000 preference shares RM45,000 10% debentures 33,000 shares-market value RM3 each 30,000 45,000 May has only recorded the cash paid to acquire the securities. b) On 1 January x7, May recognised an intangible asset (other than goodwill) in Park and the fair value of which was RM40,000. The estimated economic life of the asset was four years. Park has not recorded it. Ignore deferred tax. c) As at year-end, provision or the year's dividends on preference shares and second half- year's debenture interest have not been provided by Park. Preference dividends accrued are RM10,000. Required: Prepare the consolidated statement of financial position as at 31 December x7.

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