please help 
(a) The Balance Sheet of David Ltd. and Parker Ltd. as of 31 March, 2019 is given below: (in lakh) Assets David Ltd. Parker Ltd. Non-current assets: Property, plant and equipment 400 600 Investment 300 200 Current assets: Inventories 300 100 Financial assets Trade receivables 400 200 Cash and cash equivalents 150 200 Others 300 300 Total 1,850 1.600 Equity and Liabilities Equity Share capital - Equity shares of 100 each for Parker Ltd. & 10 each for David Limited 500 400 Other Equity 700 275 Non-current liabilities: Long term borrowings 200 300 Long term provisions 100 80 Deferred tax 20 55 Current liabilities: Short term borrowings 130 170 Trade payables 200 320 Total 1.850 1.600 Other Information: 0) David Ltd. acquired 70% shares of Parker Ltd. on 19 April, 2019 by issuing its own shares in the ratio of 1 share of David Ltd. for every 2 shares of Parker Ltd. The fair value of the shares of David Ltd. was 750 per share. (ii) The fair value exercise resulted in the following (1) Fair value of property, plant and equipment (PPE) on 18 April, 2019 was 450 lakh. (2) David Ltd. agreed to pay an additional payment as consideration that is higher of 30 lakh and 25% of any excess profits in the first year after acquisition, over its profits in the preceding 12 months made by Parker Ltd. This additional amount will be due after 3 years. Parker Ltd. has earned 720 lakh profit in the preceding year and expects to eam another 10 lakh. (3) In addition to above, David Ltd. also has agreed to pay one of the founder shareholder-Director a payment of 25 lakh provided he stays with the Company for two years after the acquisition. (4) Parker Ltd. had certain equity settled share-based payment award (original award) which got replaced by the new awards issued by David Ltd. As per the original term, the vesting period was 4 years and as of the acquisition date the employees of Parker Ltd. have already served 2 years of service. As per the replaced awards, the vesting period has been reduced to one year (one year from the acquisition date). The fair value of the award on the acquisition date was as follows: Original award - 26 lakh Replacement award - 29 lakh (5) Parker Ltd. had a lawsuit pending with a customer who had made a claim of 735 lakh. Management reliably estimated the fair value of the liability to be 10 lakh. (6) The applicable tax rate for both entities is 40%. You are required to prepare opening consolidated balance sheet of David Ltd. as on 1st April, 2019 along with workings. Assume discount rate of 8%. (16 Marks) (a) The Balance Sheet of David Ltd. and Parker Ltd. as of 31 March, 2019 is given below: (in lakh) Assets David Ltd. Parker Ltd. Non-current assets: Property, plant and equipment 400 600 Investment 300 200 Current assets: Inventories 300 100 Financial assets Trade receivables 400 200 Cash and cash equivalents 150 200 Others 300 300 Total 1,850 1.600 Equity and Liabilities Equity Share capital - Equity shares of 100 each for Parker Ltd. & 10 each for David Limited 500 400 Other Equity 700 275 Non-current liabilities: Long term borrowings 200 300 Long term provisions 100 80 Deferred tax 20 55 Current liabilities: Short term borrowings 130 170 Trade payables 200 320 Total 1.850 1.600 Other Information: 0) David Ltd. acquired 70% shares of Parker Ltd. on 19 April, 2019 by issuing its own shares in the ratio of 1 share of David Ltd. for every 2 shares of Parker Ltd. The fair value of the shares of David Ltd. was 750 per share. (ii) The fair value exercise resulted in the following (1) Fair value of property, plant and equipment (PPE) on 18 April, 2019 was 450 lakh. (2) David Ltd. agreed to pay an additional payment as consideration that is higher of 30 lakh and 25% of any excess profits in the first year after acquisition, over its profits in the preceding 12 months made by Parker Ltd. This additional amount will be due after 3 years. Parker Ltd. has earned 720 lakh profit in the preceding year and expects to eam another 10 lakh. (3) In addition to above, David Ltd. also has agreed to pay one of the founder shareholder-Director a payment of 25 lakh provided he stays with the Company for two years after the acquisition. (4) Parker Ltd. had certain equity settled share-based payment award (original award) which got replaced by the new awards issued by David Ltd. As per the original term, the vesting period was 4 years and as of the acquisition date the employees of Parker Ltd. have already served 2 years of service. As per the replaced awards, the vesting period has been reduced to one year (one year from the acquisition date). The fair value of the award on the acquisition date was as follows: Original award - 26 lakh Replacement award - 29 lakh (5) Parker Ltd. had a lawsuit pending with a customer who had made a claim of 735 lakh. Management reliably estimated the fair value of the liability to be 10 lakh. (6) The applicable tax rate for both entities is 40%. You are required to prepare opening consolidated balance sheet of David Ltd. as on 1st April, 2019 along with workings. Assume discount rate of 8%. (16 Marks)
