On 1 April 2016, Lune Ltd had paid 28 000 to acquire 65 % of the shares in Soleil Ltd. On that date, the retained earnings of Soleil Ltd were 8 000 and the fair value of the company's non-current assets was 6 000 more than their book value. This revaluation has not been reflected in the books of Soleil Ltd. Soleil Ltd has issued no shares since being acquired by Lune Ltd. Goodwill arising on consolidation has suffered an impairment loss of 30 % since acquisition. Prepare a consolidated statement of financial position as 31 March 2020.

The statements of financial position of Lune Ltd and Soleil Ltd at 31 March 2020 are as follows: Lune Ltd Soleil Ltd ASSETS Non-current assets Property, plant and equipment Investment in Soleil Ltd Current assets 500000 30 000 28000 300000 828 000 25 000 55 000 EQUITY Ordinary share capital Retained earnings 550 000 140000 22 000 20 000 42 000 LIABALITIES Current liabilities 138000 828000 13 000 55 000 On 1 April 2016, Lune Ltd had paid 28 000 to acquire 65 % of the shares in Soleil Ltd. On that date, the retained earnings of Soleil Ltd were 8 000 and the fair value of the company's non-current assets was 6 000 more than their book value. This revaluation has not been reflected in the books of Soleil Ltd. Soleil Ltd has issued no shares since being acquired by Lune Ltd. Goodwill arising on consolidation has suffered an impairment loss of 30% since acquisition