Please do show all your workings as well as the consolidated statement of financial position on the paper provided On 1 January 2020 Parent plc acquired 100% of the equity shares in Subsid plc for 288,000 to gain control. The retained earnings of the Subsid plc at 1 January 2020 were 38,400. The fair value of the land in Subsid plc was 12,000 above book value. During the year Parent plc sold some of its inventory to Subsid plc for 33,600, which represented cost plus a mark-up of 30%. Some of these goods, 40%, are still in the inventory of Subsid plc at 31 December 2020. The statements of financial position of the two companies as at 31 December 2020 are shown below. Parent plc 200,000 288,000 Subsid plc 252,000 Non-Current Assets Investment in Subsid plc 38,400 Current Assets Inventories Parent Current Account Other Current Assets 15,200 76,800 38,400 129,600 Current Liabilities Subsid. Current Account Other Current Liabilities Net Current Assets 100.000 30,400 76,800 60.000 31,200 Net Assets 518.400 283.200 Equity Share Capital Retained Earnings 230,400 288,000 518,400 201,600 81.600 283,200 Required: Prepare a consolidated statement of financial position for Parent plc as at 31 December 2020