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ASSIGNMENT THREE OPHELIA has held shares in two companies, OPOKU and APPIAH, for a number of years. As at 31 December 2019, they have the following statements of financial position OPHELIA 4'000 OPOKU '000 APF 4'000 Non-Current assets Property, plant & equipment Investments 190 260 370 218 588 190 260 Current assets: Inventories Trade receivables Cash 160 170 50 380 968 100 90 40 230 420 180 100 10 290 550 |||||||| Equity Share capital (1 ordinary shares) Share deals account Retained earnings 200 100 568 868 80 80 200 360 50 30 400 480 Current liabilities Trade payables 100 968 60 420 70 550 You ascertain the following additional information: a) The investments' in the statement of financial position comprise solely OPHELIA's investment in OPOKU (128,000) and in APPIAH (490,000). b) The 48,000 shares in OPOKU were acquired when OPOKU's retained earnings balance stood at $20,000. The 15,000 shares in APPIAH were acquired when that company had a retained earnings balance of $150,000. c) When OPHELIA acquired its shares in OPOKU the fair value of OPOKU's net assets equalled their book values with the following exceptions: '000 Property, plant and equipment 50 higher Inventories 20 lower (sold during 2019) Depreciation arising on the fair value adjustment to non-current assets since this date is 5,000. d) During the year, OPHELIA sold inventories to OPOKU for 16,000, which originally cost OPHELIA 10,000. Three-quarters of these inventories have subsequently been sold by OPOKU. e) No impairment losses on goodwill had been necessary by 31 December 2019. Required Produce the consolidated statement of financial position for the OPHELIA group (incorporating the associate). It is the group policy to value the non-controlling interest at full (or fair) value. The fair value of the non-controlling interest at acquisition was 90,000