On 1 May 2017 Karl bought 60% of Susan paying GHS76,000,000 cash. The summarised statements of financial position for the two companies as at 30 November 2017 are:

                                                                                                Karl                             Susan

                                                                                                GHS’000                    GHS’000

Non-current assets

Property, plant and equipment                                          138,000                      115,000

Investments                                                                            98,000                             

Current assets

Inventory                                                                                15,000                         17,000

Receivables                                                                          19,000                         20,000

Cash                                                                                         2,000                                    

                                                                                                272,000                      152,000         

Share capital                                                                           50,000                      40,000

Retained earnings                                                               189,000                     69,000 

                                                                                                239,000                      109,000

Non-current liabilities

8% Loan notes                                                                           -                            20,000

Current liabilities                                                                  33,000                        23,000 

                                                                                                272,000                     152,000 

The following information is relevant:

• The inventory of Karl includes GHS8,000,000 of goods purchased for cash from Susan at cost plus 25%.
• On 1 June 2017 Karl transferred an item of plant to Susan for GHS15,000,000. Its carrying amount at that date was GHS10,000,000. The asset had a remaining useful economic life of 5 years.
• The Karl Group values the non-controlling interest using the fair value method. At the date of acquisition the fair value of the 40% non-controlling interest was GHS50,000,000.
• An impairment loss of GHS1,000,000 is to be charged against goodwill at the year-end.
• Susan earned a profit of GHS9,000,000 in the year ended 30 November 2017.
• The loan note in Susan’s books represents monies borrowed from Karl on 30 November 2017.
• Included in Karl’s receivables is GHS4,000,000 relating to inventory sold to Susan during the year. Susan raised a cheque for GHS2,500,000 and sent it to Karl on 29 November 2017. Karl did not receive this cheque until 4 December 2017.

Required: 

Prepare the consolidated statement of financial position as at 30 November 2017.