On 1 October 2021, PQ Berhad bought 70\% holding in the equity of ST Berhad for price was at RM2.60 per unit, share capital was RM300,000,000, retained earnings wa RM270,000,000 and revaluation reserves was RM80,000,000. ST Berhad failed to adjustment for the fair value of the freehold land at the value of RM50,000,000. The group olicy is to app The financial statements of PQ Berhad and its subsidiary for the year ended 30 September 2022 were presented below: Statement of Profit or Inss and Other Comnrehensive Income Statement of Financial Position 7 BKAR3043 Financial Accounting \& Reporting IV As at 30 Sentemher an? Additional information: 1. Impairment losses of RM4 million were deemed to have arisen by 30 September 2022 in respect of goodwill other expenses account. 2. During the financial year ended 30 July 2022, ST Berhad had sold goods to PQ Berhad amounting to RM15,000,000. The profit margin is 20% on selling price. Of 8 BKAR3043 Financial Accounting \& Reporting IV these goods, one-third remained in the closing inventory of PQ Berhad n at the reporting date. 3. ST Berhad sold a piece of machinery to PQ Berhad for RM10,000,000 on 1 October 2021. This equipment had a carrying value of RM4,000,000 prior to transfer The gai 2021. This equipment had a carrying value of RM4,000,000 prior to transfer. The gain on sale was shown as 'other income' in the books of ST Berhad. The equipment had four-year useful economic life remaining at the date of transfer. The depreciation was four-year useful economic life remainir classified under other expenses account 4. On 1 July 2022, ST Berhad declared a dividend of RM10,000,000 out of post- 5. PQ Berhad has joint venture arrangement with TD Berhad for VQ Sdn Bhd, sharing of control with ownership of 50 percent by each party since year 2018. During the year, VQ Sdn Bhd net profit after tax amounting to RM60,000,000. There are some year-end transactions not accounted in the VQ Sdn Bhd financial statements as year-en llows: 6. Taxation rate is 24%. The tax effects on unrealized profit for intragroup and other relevant transactions need to be accounted. REQUIRED (To show all the workings): (a) Calculate the goodwill on consolidation. (b) Prepare the relevant consolidation journal entries for the year ended 30 September 2022. (c) Prepare the Consolidated Statement of Profit or Loss and Other Comprehensive Income d) Prepare the Consolidated Statement of Financial Position of PQ Berhad as at 30 September 2022