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Paul has owned 80% of the share capital of Saul since Sauls incorporation on 1 January 2012, when the fair value of Sauls shares were

Paul has owned 80% of the share capital of Saul since Sauls incorporation on 1 January 2012, when the fair value of Sauls shares were GH1 each. On 31 December 2014 the summarized Statements of Financial Position of both companies are:

Paul

Saul

GH000

GH000

Non-current assets

300

100

Investments: Shares in Saul

80

-

Current assets

100

80

Total assets

480

180

Equity shares at GHC1 each

200

100

Retained Earnings

230

60

Current liabilities

50

20

Total Equity and Liabilities

480

180

Prepare the Consolidated Statement of Financial Position for the Paul group as at 31 December 2014, assuming goodwill is not impaired.

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