Head plc $000	Tail plc $000
ASSETS
Non Current ASSETS	11,500
	11,270	9,200
Property, Plant & Equipment	22,770	9,200
CURRENT ASSETS
Inventories	1,840	1,495
Trade receivable s	2,070	1,365
Cash & Cash Equivalents	1,610	1,725
	5,520	4,485
TOTAL ASSETS	28,290	13,685
EQUITY & LIABILITY
EQUITY
Share capital	5,750	4,600
Retained earnings	5,175	2,070
	10,925	6,670
TOTAL EQUITY	10,925	6,670
NON CURRENT LIABILITIES	8,970	2,760
CURRENT LIABILITIES
Trade payable	6 785	2,875
Taxation	1,610	1,380
	8,395	4,255
TOTAL liabilities	17,365	7,015
TOTAL EQUITY & liabilities	28,290	13,685

The statement above shows the Financial position of Head plc and Tail plc as at 31 December 2021.

FURTHER INFORMATION

1. On 1 January 2021, Head plc acquired 80% of ordinary Share capital and voting rights of Tail plc for $11,500.000. On the same day, Tail plc had issued shares of 4,600,000 at face value of $1 each and retained earnings of $ 3,450,000

2. On 1 January 2021, the Non current assets were revalue at $10,350,000. The fair value of the revaluation has not been recorded in the books of Tail plc.

3. During the year, the value of Goodwill has been impaired by $230,000

4. $575,000 is an inter-company transaction included in the trade receivables of Head ltd and in the trade payable of Tail ltd at 31 December 2021

5. Non controlling interest will be valued at their proportionate share of net assets.

REQUIRED

a. Prepare a consolidated statement of financial position of Head Ltd and its subsidiary undertaking as On 31 December 2021

b. Explain the criteria Head Ltd being the parent of Tail Ltd according to the standard IFRS10