Goodwill at acquisition was calculated to be $60,000. The total assets in the consolidated statement of financial position as at December 31, 2019 were calculated to be $6,865,000. You are required to show workings for the following:

1. Provision for unrealized profit

2. Non controlling interest at the reporting date

3. Group Retained earning at reporting date.

Financial statement are attached in the SS

1. The following are statements of financial position as at December 31, 2019, of three companies, Liz, Di and Kit. Di Co. and Kit Co. are investee companies of Liz Co. Liz $000 Di 5000 Kit $000 1,250 375 500 285 Assets Non-current assets Land and buildings Plant and equipment Investments Current assets Inventories Account receivables Cash 1,950 795 1,500 4,245 1,625 785 575 330 50 955 5,200 300 290 120 710 2,335 265 370 20 655 1,440 Equity and liabilities Equity Share capital ($1 ordinary shares) Retained earnings Non-current liabilities 12% debentures Current liabilities Bank overdraft Account payables 2,000 1,460 3,460 1,000 885 1,885 750 390 1,140 500 100 560 680 1,740 5,200 350 450 2,335 300 300 1,440 The following additional information is available: i. Liz Co. acquired 600,000 ordinary shares in Di Co on January 1, 2014 for $1,000,000 when the accumulated retained earnings of Di Co were $200,000. ii. At the date of the acquisition of Di Co, the fair value of its land and buildings was considered to be $400,000 greater than its value in Di Co.'s statement of financial position. Di Co had acquired the property ten years earlier and the buildings element comprising 50% of the total value) is depreciated on cost over 50 years. iii. Liz Co acquired 225,000 ordinary shares in Kit Co on January 1, 2018 for $500,000 when the retained profits of Kit Co were $150.000 iv. Di Co manufactures a component used by Liz Co only. Transfers are made by Di Co at cost plus 25%. Liz Co held $100,000 of these components in inventories at December 31, 2019. v. It is the policy of Liz Co. to review goodwill for impairment annually. The goodwill in Liz Co was completely impaired in full three years ago. An impairment test conducted at the year-end revealed impairment losses on the investment in Kit Co. of $92,000. vi. It is group policy to value the non-controlling interest at acquisition at fair value. The market price of the shares of the non-controlling shareholders just before the acquisition was $1.65