On 31 December 2015, Allegro Berhad acquired 75% of the 3 million RMI ordinary shares of Vivace Berhad for a consideration of RM2,850,000. At that date, Vivace Berhad's retained profit was RM448,000. The Statement of Profit or Loss and Other Comprehensive Income and Movements in Retained Profits of the two (2) companies for the year ended 31 December 2019 were as follows: Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2019 Vivace Berhad Sales Less: Cost of sales Opening inventories Purchases Closing inventories Gross profit Other income Management fees- Interest income Rental income Allegro Berhad RM'000 RM'000 5,600.00 2,800.00 630.00 560.00 2,800.00 2,240.00 (1,120.00) (1,330.00) (2,310.00) 3,290.00 (1,470.00) 1,330.00 123.20 112.00 308.00 140.00 543.20 140.00 Expenses Operation expenses (765.00) (454.00) Administration expenses (291.20) (504.00) Operating profit 2.777.00 512.00 Finance expenses (126.00) (112.00) Profit before taxation 2,651.00 400.00 Tax expenses (252.00) (168.00) Profit for the year 2,399.00 232.00 Movements in Retained Profits: Retained profits b/f 896.00 560.00 Movements in Retained Profits: Retained profits b/f Profit for the year Retained profits c/f 896.00 560.00 2,399.00 232.00 3.295.00 792.00 Additional information: 1. Allegro Berhad adopts the proportional net assets method in the valuation of non- controlling interest. 2. It is the group's policy to charge interest expense under finance expenses. Vivace Berhad had no other loan debtor except from Allegro Berhad. 3. Management fees for administrative, human resource and accounting functions amounting to RM46,200 was charged to Vivace Berhad for the year. 4. All intragroup transactions were recorded in the respected companies' books. Required: (a) Compute the following for consolidation purpose: (i) Goodwill or bargain purchase. (5 marks) (ii) Non-controlling interest's (NCI) share as at 31 December 2019. (3 marks) (b) Prepare the relevant journal entries for eliminating intra-group transactions for consolidation purpose. (4 marks) (c) Prepare the Consolidated Statement of Profit or Loss and Other Comprehensive Income of Allegro Berhad and its subsidiary. (13 marks) [Total: 25 Marks]