Pink acquired 80% of the share capital of Blue on 1 April 2019. The retained earnings of Blue on 30 Sept 2018 were 135,000. No dividends paid by Blue in the year to 30 Sept 2019.

The fair value of the 20% non-controlling interest at acquisition was 200,000.

At acquisition the fair value of Blue's plant exceeded its carrying amount by 200,000. Plants are depreciated at 20% rate (straight line method).

Goodwill should be written down by 20,000 of its original value to allow for impairment.

Below are the statements of financial position of as at 30 Sept 2019.

	Pink		Blue
Assets	'000		'000
Non-current assets
Property, plant and equipment	2300		400
Investment in Blue at cost	1000
	3300		400
Current assets
Inventory	300		200
Receivables	300		200
Cash	300		100
	900		500
Total assets	4200		900
Equity
Share capital	1000		475
Retained earnings	2750		275
	3750		750
Liabilities
Current liabilities	450		150
Total equity and liabilities	4200		900

Prepare the consolidated statement of financial position of Pink Group as at 30 September 2019, assuming the group uses the fair value method to account for non-controlling interest.

Include all relevant workings (20 marks)

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