L Plc acquired 75% of the ordinary share capital of H Plc for $155 million and 35% of the ordinary share capital of C Plc for $65 million on 1.1.2017, when the retained earnings were $65 million in H Plc and $25 million in C Plc.

Statement of financial position as at 31.12.2019

L Plc H Plc C Plc

$millions $millions $millions

Non-current assets

Property, plant & equipment 225 165 80

Investments 220 0 0

445 165 80

Current assets

Inventory 385 230 120

Trade receivables 280 165 70

Cash 40 15 35

705 410 225

Total assets 1150 575 305

Equity

Ordinary share capital $1 400 100 80

Share premium 15 5 0

Retained earnings 280 130 100

695 235 180

Current liabilities

Trade payables 455 340 125

1150 575 305

Notes

1. On 1.1.2017, H Plc owned some equipment (purchased on 1.1.2015 and depreciated over 6 years) with a carrying amount of $40 million, having a fair value of $50 million.
2. 0n 30.11.2019, L Plc sold goods to H Plc for $30 million cash with the original cost of $20 million and none had been sold.
3. On 30.11.2019, L Plc sold goods to C Plc for $20 million with an original cost $10 million, and half of them had been sold.
4. On 1.1.2017, the fair value of NCI in H Plc was $40 million.
5. On 31.12.2019, cumulative impairment losses on recognized goodwill related to the subsidiary were $12 million.

Required

Prepare consolidated statement of financial position for L Plc and its subsidiary as of 31.12.2019, incorporating its associate according to IAS 28 Investments in Associates.