(i) On 01 January 2013, Gordon Plc acquired 75% of Brown Ltd for $300,000 when Brown`s share capital and reserves were $252,000. Prior to the acquisition, the net book value of Brown`s non-current assets was $90,000. Brown revalued its non-current assets immediately prior to the acquisition to fair value and included the revaluation in its statement of financial position. (ii) On 01 January 2015, Gordon acquired 20% of Boris Ltd for $72,000 when the fair value of Boris`s net assets were $42,000. (iii) Goodwill has been impaired in Brown by $77,700 and in Boris by $31,800 (iv) At the year end, Gordon Plc has inventory acquired from Brown and Boris. Brown had invoiced the inventory to Garden for $6,000 the cost to Brown had been $1,200 and Boris had invoiced Gordon for $3,000 the cost to Boris had been $1,800. REQUIRED (a) Prepare Gordon Plc`s Consolidated Statement of Financial Position as at 31 December 2019.

$ The following are the statements of financial position of Gordon Plc, its subsidiary Brown Ltd and its associate Boris Ltd. Statements of Financial Position as at 31 December 2019 Gordon Brown Boris ASSETS $ $ Non-Current assets Land at cost 240,000 84,000 Land at valuation 180,000 Investment in Brown 300,000 Investment in Boris 72,000 Investments 18,000 Current assets Inventories 15,000 99,000 5,400 Trade receivables 33,000 98,400 1,200 Current account - Brown 18,000 Current account - Boris 2,400 Cash 6,600 67,200 300 Total current assets 75,000 264,600 6,900 Total assets 705,000 444,600 90,900 EQUITY AND LIABILITIES $1 Shares 300,000 120,000 30,000 Revaluation reserve 90,000 Retained earnings 270,000 216,000 57,600 570,000 426,000 87,600 Current Liabilities Trade payables 135,000 3,600 900 Current account - Gordon 15,000 2,400 Total equity and liabilities 705,000 444,600 90,900