Koni Enterprise acquired all the equity shares of Annie Private Limited for $2,000,000 on 31 January 2016. All assets were recorded close to their fair values except land, which was valued at $600,000 The following is the financial statements of both entities. Koni Enterprise Annie Private Limited $ 180,000 186,000 100,000 Cash Trade Receivables Inventories Investment in Subsidiary Land Buildings Furniture 550,000 360,000 200,000 2,000,000 850,000 550,000 328,000 4,838,000 550.000 200,000 80,000 1,296,000 Trade Payables Mortgage Capital Retained Earnings 450,000 588,000 1,800,000 2,000,000 4,838,000 277,000 341,000 478,000 200,000 1,296,000 Required: (a) What is the shareholding (%) a parent company must have for the entities below: i Investment [1 mark] il Associate [1 mark] III. Subsidiary [1 mark] (b) Name the method used to account for a subsidiary. [1 mark) (c) Hence, prepare the Consolidated Statement of Financial Position in a single worksheet [16 marks) [Total: 20 marks)