On 1 January 2019 Detergent company acquired 75% of Latrine companys equity shares by means of an exchange of 2 shares in Detergent for every 3 shares acquired in Latrine. On that date, further consideration was also issued to the shareholders of Latrine in the form of $100 8% loan notes for every 100 shares acquired in Latrine. None of the purchase consideration nor the outstanding interest on the loan notes at 31 March 2019 has yet been recorded by Detergent. At date of acquisition the share price of Detergent and Latrines share is N$3,20 and N$1,80 respectively.

The summarized statements of financial position of the two companies as at 31 March 2019 are:
Assets
Non-Current assets
PPE (note 1)	75 200		31 500
Investment in (Amerson Ltd) (note 4)		4 500
		79 700 31 500
Current assets	35 300		31 900
Inventory (note 3)	19 400		18 800
Trade receivables	14 700		12 500
bank	1 200		600
Total assets	115 000		63 400
Equity and Liabilities
Equity
Equity shares of $1 each	50 000		20 000
Retained earnings (01 April 2018)	20 000		19 000
(@31 March 2019)	16 000		8 000
		86 000 47 000
Non-Current liabilities	29 000		16 400
8 % loan notes	5 000		Nil
Current liabilities	24 000		16 400
Total equity and liabilities	115 000		63 400

The following information is relevant:

Note 1

At the date of acquisition the fair values of Latrines assets were equal to their carrying amounts. However, Latrine operates amine which requires to be decommissioned in five years time. No provisions have been made for these decommissioning costs by Latrine. The present value

(discount factor 8%) of the decommissioning is estimated at N$4m and will be paid five years from the date of acquisition (the end of the mines life).

Note 2

Detergents policy is to value NCI at fair value at the date of acquisition. Latrines share price at that date can be deemed to be representative of the fair value of the shares held by the NCI.

Note 3

The inventory of Latrine Company includes goods bought from Latrine for N$2.1m. Detergent applies a consistent mark up on sales of 40% when arriving at its selling prices.

On 28 March 2019 Detergent dispatched goods to Latrine with a selling price of $700 000. These were not received by Latrine until after year end and so have not been included in the above inventory at 31 March 2019.

At 31 March 2019 Detergents records showed a receivable due from Latrine of N$3m, this differed to the equivalent payable in Latrines records due to the goods in transit.

Note 4

The investment in Amery Ltd represents 30% of its voting share capital and Detergent uses equity accounting to account for this investment. Amery Ltd.s profit for the year ended 31 March 2019 was N$6m and Amery Ltd paid a total dividend of N$2m during 31 March 2019. Detergent has recorded its share of dividend received from Amery in investment income (and cash).

Note 5

All profits and losses accrued evenly throughout the year

Note 6

There were no impairment losses within the group for the year ended 31 March 2019.

Required:

Prepare the consolidated statement of financial position as at 31 March 2019