OD Green Co and Blue Co The following are the draft statement of the Financial Position of Green Co and its subsidiary Blue Co as of 31st December 2020 are given below: Greea Merce Art ROY RO Ne- cats Property 8560 D Ive Bee Co Cart events 13.400 Trade and the cable 335.000 Chad Chan WORDS Twale 1.3.0045 Equity and other Share ORI 0 225.000 Sprem 135.000 125 Metained camps 70.000 Nee-wrat able Bank L CBS Trade and there 11 1.500 Total Equity & Labs 1938.000 Additional information: Green Co acquired 157,300 shares (70%) in Blue Co on 1" Jan 2020 for a cost of RO 225.000 when the retained earnings of Blue Co were RO 15,000. The fair value of the non-controlling interest in Blue Co at the date of acquisition was RO 60,000 2. At the date of acquisition, the fair value of the net assets of Blue Co approximated their carrying amounts, except for a plot of land owned by Blue Co. This land was held in the financial statements of Blue Co at its cost of RO 25,000 but was estimated to have a fair value of RO35,000. This land is still owned by Blue Co on 31st December 2020. 2. On 31 December 2020 Green Co sold goods to Blue Co for RO 12.000 at a margin of 20%. 25% of these goods were still unsold by Blue Co at the end of the year, On 31" December 2020, Green Co's trade receivables include RO 7.500 due from Blue Co, and Blue Co's trade payable include RO 7.500 due to Green Co. Question A. You are required to: Prepare consolidated statement of financial position as of 31" December 2020 of Green Co. (Provide Reference to IFRS wherever applicable and relevant workings) 10 marks B. You are required to prepare a presentation with 5 to 10 slides covering: The discussion on the Objective of financial reporting and About regulatory framework. Also, highlight the use and application of IFRS