On 1 January 2014 Company A acquired 25 per cent of the equity of each of entities B, C and D for R10,000, R15,000 and R28,000 respectively. Company A has significant influence over entities B. C and D. Transaction costs of 1 per cent of the purchase price of the shares were incurred by Company A. On 2 January 2014 entity B declared and paid dividends of R1, 000 for the year ended 2013. On 31 December 2014 entity C declared a dividend of R8, 000 for the year ended 2014. The dividend declared by entity C was paid in 2015. For the year ended 31 December 2014, entities B and C recognised profit of respectively R5, 000 and R18, 000. However, entity D recognised a loss of R20, 000 for that year. Published price quotations do not exist for the shares of entities B, C and D. Using appropriate valuation techniques Company A determined the fair value of its investments in entities B, C and D at 31 December 2014 as R13,000, R29,000 and R15,000 respectively. Costs to sell are estimated at 5 per cent of the fair value of the investments. Company A has no subsidiaries and therefore does not produce consolidated financial statements