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Knitting Co acquired 240,000 of Crocheting Co's 800,000 equity shares for 6 per share on 1 October 2019. Crocheting Co's profit after tax for the
Knitting Co acquired 240,000 of Crocheting Co's 800,000 equity shares for 6 per share on 1 October 2019. Crocheting Co's profit after tax for the year ended 30 September 2020 was 400,000 and it paid an equity dividend on 20 September 2020 of 150,000. Crocheting Co is an associate of Knitting Co. Fill in the blanks in the working on the carrying amount of the investment in Crocheting Co in the consolidated statement of financial position of Knitting Co as at 30 September 2020 (the equity method is used). NB! Write numbers only, do not write any words, letters, symbols in the blanks. Show negative amounts, i.e. amounts subtracted in brackets - e.g. (10,000). Consideration 1,440,000 Share of associate's profit Less: Dividend received Investment in associate as at 30 September 2017
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