PATA PLC acquired 75 of the equity interest in POTEA PLC at 1 January 2019 for KShs 50 million The Statement of Financial Position as at 31 March 2020 were as follows PATA PLC POTEA PLC Assets Non current assets Property, plant and equipment 35,000 25, 000 Investment in POTEA PLC 50,000 85,000 25,000 Current assets Inventory 10,000 5,000 Receivables 30,000 20,000 Cash 10,000 10,000 Total Assets 135,000 60,000 Equity and liabilities Equity Equity KShs 1 ordinary shares 80,000 40,000 Retained earnings 35,000 15,000 115,000 55,000 Current liabilities 20,000 5,000 Total equity and liabilities 135,000 60,000 Additional information At the date of acquisition all the assets and liabilities of POTEA PLC were reflected at fair value except land, which had a fair value of KShs 5,000,000 in excess of its carrying amount The retained earnings at the date of acquisition was KShs 10,000,000 PATA Group measures the NCI at its proportionate share of the acquirees net identifiable assets During the year ended 31 March 2020, POTEA PLC Purchased KShs 1,000,000 worth of goods from PATA PLC Out of these goods half (1 2) of them remained unsold in the premises of company POTEA The sales policy of PATA PLC is to add 25 of mark up to its cost During the year ended 31 March 2020, PATA Purchased KShs 1,500,000 worth of goods from POTEA PLC Out of these goods one third (1 3) of them remained unsold in the premises of company PATA The sales policy of POTEA PLC is to keep 25 margin from sales price On 1 April 2019, POTEA PLC sold a motor vehicle to PATA PLC for KShs 600,000, the carrying amount of the motor vehicle at the date of sale stood at KShs 400,000 The remaining useful life of motor vehicle at the date of sale was 4 years As at 31 March 2020, the intra group receivables stood at KShs 1,000,000 and group payables stood at KShs 800,000 The difference was due to the cash in transit During the year company PATA PLC and POTEA PLC paid a dividend of KShs 300,000 and KShs 200,000 respectively As at 31 March 2020, goodwill had been impaired by KShs 750,000 Required Prepare the Consolidated Statement of Financial Position as at 31 March 2020

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PATA PLC acquired 75% of the equity interest in POTEA PLC at 1 January 2019 for KShs. 50 million. The Statement of Financial Position as

PATA PLC acquired 75% of the equity interest in POTEA PLC at 1 January 2019 for KShs. 50 million. The Statement of Financial Position as at 31 March 2020 were as follows:

PATA PLC POTEA PLC

Assets

Non-current assets Property, plant and equipment 35,000 25, 000

Investment in POTEA PLC 50,000 -

85,000 25,000

Current assets

Inventory 10,000 5,000

Receivables 30,000 20,000

Cash 10,000 10,000

Total Assets 135,000 60,000

Equity and liabilities Equity

Equity

KShs.1 ordinary shares 80,000 40,000

Retained earnings 35,000 15,000

115,000 55,000

Current liabilities 20,000 5,000

Total equity and liabilities 135,000 60,000

Additional information.

At the date of acquisition all the assets and liabilities of POTEA PLC were reflected at fair value except land, which had a fair value of KShs.5,000,000 in excess of its carrying amount.
The retained earnings at the date of acquisition was KShs. 10,000,000
PATA Group measures the NCI at its proportionate share of the acquirees net identifiable assets.
During the year ended 31 March 2020, POTEA PLC Purchased KShs.1,000,000 worth of goods from PATA PLC. Out of these goods half (1/2) of them remained unsold in the premises of company POTEA. The sales policy of PATA PLC is to add 25% of mark up to its cost.
During the year ended 31 March 2020, PATA Purchased KShs.1,500,000 worth of goods from POTEA PLC. Out of these goods one third (1/3) of them remained unsold in the premises of company PATA. The sales policy of POTEA PLC is to keep 25% margin from sales price.
On 1 April 2019, POTEA PLC sold a motor vehicle to PATA PLC for KShs.600,000, the carrying amount of the motor vehicle at the date of sale stood at KShs.400,000. The remaining useful life of motor vehicle at the date of sale was 4 years.
As at 31 March 2020, the intra group receivables stood at KShs.1,000,000 and group payables stood at KShs.800,000. The difference was due to the cash in transit.
During the year company PATA PLC and POTEA PLC paid a dividend of KShs.300,000 and KShs.200,000 respectively.
As at 31 March 2020, goodwill had been impaired by KShs.750,000.

Required:

Prepare the Consolidated Statement of Financial Position as at 31 March 2020.