On 1 January 2022 , Aaron Ltd acquired 80% of the ordinary shares of a subsidiary, Yeoh Org, which operates in Tarimsia, a country in the Asia-Pacific region that uses the currency TS. Yeoh Org was incorporated with share capital of 1,840,000 T\$. Yeoh Org has issued no shares since acquisition. The summary statements are as follows: The following information is also available: i. Opening inventory and non-current assets were acquired on 1 January 2022 and closing inventory was acquired on 1 November 2022. ii. Exchange rates were as follows: Required: a) Briefly describe the approach taken by International Accounting Standards (IAS) to translate the financial statements of foreign subsidiaries. How would the translation reserves be treated? (4 marks) b) Translate the income statement and the statement of financial position for the year ended 31 December 2022 for Yeoh Org using current IAS. (7 marks) c) Show how the foreign exchange difference in part (b) arises. (5 marks) d) Calculate the foreign exchange reserve and the non-controlling interest that would be seen in the consolidated financial statements of Aaron Ltd as at 31 December 2022. (4 marks) (Total: 20 marks)