P Co acquired the voting shares of Silver Co and Amber Co, details as follows: Income Statement and partial Statement of ChanSilver Co Amber Co 1 Jan 20x3 80% 1 Jan 20x5 35% Date of acquisition Percentage acquired by P Co Shareholders equity at date4. On 1 July 20x5, P Co transferred fixed assets to Amber Co at a transfer price of $500,000. The original cost of the fixed7. During 20x5, Amber Co sold excess building materials (inventory) to P Co as follows: Transfer price $50,000 Original cost P Co acquired the voting shares of Silver Co and Amber Co, details as follows: Income Statement and partial Statement of Changes in Equity for the year ended 31 December 20x6 P Co Silver Co Amber Co Profit before tax 3,000,000 2,000,000 900,000 Tax (600,000) (400,000) (200,000) Profit after tax 2,400,000 1,600,000 700,000 Dividends declared (220,000) (100,000) (90,000) Profit retained 2,180,000 1,500,000 610,000 Retained earnings, 1 Jan 20x6 5,500,000 1,600,000 720,000 Retained earnings, 31 Dec 20x6 7,680,000 3,100,000 1,330,000 Abridged Statement of Financial Position as at 31 December 20x6 P Co Silver Co Amber Co Investment in Silver Co 3,200,000 Investment in Amber Co 1,100,000 Other net assets 5,880,000 4,100,000 2,050,000 10,180,000 4,100,000 2,050,000 Share capital 2,500,000 1,000,000 500,000 Retained earnings 7,680,000 3,100,000 1,330,000 Other comprehensive income 220,000 10,180,000 4,100,000 2,050,000

P Co acquired the voting shares of Silver Co and Amber Co, details as follows: Income Statement and partial Statement of Changes in Equity for the year ended 31 December 20x6 Amber Co Profit before tax Tax Profit after tax Dividends declared Profit retained Retained earnings, 1 Jan 20x6 Retained earnings, 31 Dec 20x6 Investment in Silver Co Investment in Amber Co Other net assets P Co Share capital Retained earnings Other comprehensive income Silver Co 3,000,000 2,000,000 (600,000) (400,000) 2,400,000 1,600,000 900,000 (200,000) 700,000 Abridged Statement of Financial Position as at 31 December 20x6 P Co (220,000) (100,000) 2,180,000 1,500,000 5,500,000 1,600,000 7,680,000 3,100,000 1,330,000 (90,000) 610,000 720,000 Silver Co Amber Co 3,200,000 1,100,000 5,880,000 4,100,000 2,050,000 10,180,000 4,100,000 2,050,000 2,500,000 1,000,000 500,000 7,680,000 3,100,000 1,330,000 220,000 10,180,000 4,100,000 2,050,000