Johnson Itd had the following Balance Shee Johnson Lid Balance Sheet As at 31 December 2015 Assets Cash 800 000 Other assets ( net ) 200 000 Total net assets $1 090 090 Equity Paid-up capital 400 090 Retained profits 600 000 Total equity $1000 090 Additional information Johnson Itd paid $300 000 to purchase 30 % of the 500 060 ordinary shares of Wright It'd on I January 2016 . This purchase resulted in Johnson Itd having significant influence over Wright Itd During the year ended 31 December 2016 Wright It'd reported profit of $100 060 and revalued its assets upwards by $50 090 Wright Itd's total dividends paid out to all shareholders during 2016 amounted to $20 000 This was paid from current period profits During the year ended 31 December 2016 , Johnson Itd made a profit ( not including revenue from share investments ) of $140 000 and paid a dividend of $20 000 . All sales were made in cash Gilly Itd is 50 % owned by Johnson Itd and is its associate During 2016 , Wright sold $15 000 of inventory to Gilly Itd and made profit of $5 000 At the end of 2016 , all of this inventory was still held by Gilly Lid