On 1 July 2018 Xavier Ltd acquires 70 per cent of the equity capital of Yasmin Ltd at a cost of $3.0 million. All assets of Yasmin Ltd were fairly stated, except for a Plant-stain Asset where the fair value should have been 300,000 but the carrying value was $200,000 (Cost was $500,000 and Accumulated Depreciation was $300,000). At the date of acquisition, the remaining useful life of that Plant asset was five years. The total shareholders' funds of Yasmin Ltd were $2 million, as follows: share capital $1.5 million; retained earnings $0.5 million. As at 30 June 2020 (that is, two years after the date of acquisition) the financial statements of the two companies are as follows and are shown in S'000: Detailed reconciliation of opening and closing Xavier Yasmin retained earnings Ltd Ltd Sales revenue 510 140 Cost of goods sold (100) (40) (30) 15 85 (30) 55 Retained earnings30 June 2019 1 000 800 1310 855 Dividends paid (160) (30) ( Dividend declared 40) (10) Retained earnings30 June 2020 1110 815 Statement of financial position Xavier Yasmin Ltd Ltd Shareholders' equit Retained earnings 1210 815 Share capital 4 000 1500 Current liabilities Accounts payable 20 30 Dividends payable 40 10 Non-current liabilities Loans 500 250 Total of liabilities and equity 5 770 2 605 Current assets Cash 160 35 Accounts receivable 232 165 Dividends receivable 8 Inventory 500 300 Non-current assets Land 500 1 105 Plant 1 770 1 300 Accumulated depreciation (400 (300) Investment in B Ltd 3 000 Total assets 5 770 2 605 Other information . The management of Xavier Ltd values any non-controlling interest in Yasmin Ltd at its fair value. During the current financial year Yasmin Ltd pays management fees of $7 000 to Xavier Ltd. This item is included in 'other' expenses and income. 3-During the current financial year. Xavier Ltd sold inventory- magenta, to Yasmin Ltd at a price of $33 000. The inventory cost Xavier Ltd $25 000 to produce. Fifty per cent of this inventory is still on hand with Yasmin Ltd at the end of the financial year. During the current financial year, Yasmin Ltd sold inventory-realm, to Xavier Ltd at a price of $21 000. The inventory-realm cost Yasmin Ltd $15 000 to produce. Forty per cent of this inventory is still on hand with Xavier Ltd at the end of the current financial year. In the preceding financial year, Yasmin Ltd sold inventory- periwinkle to Xavier Ltd at a price of $13 000. The inventory