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Statements of Comprehensive Income for the year ended 20th November 2018 Enron ple Carilion Monarch Tonon plc plc Em Em Em Em Rovonua 26.685 12.960 5.175 4.635 Cost of colos 17.790 8.640 3.450 3.090 Groz Froilt 8.895 4.320 1.725 1.545 Oiltribution Costs 1.875 1,692 1.214 375 Administrative Expenses 3.685 1.685 450 1.125 Operating Profit 3.435 61 Interest Recolvabla Finance Cost G Profit boioro taxation 3.440 198 B Profit for the your 2.752 790 The following infomation is available: In Enron purchased 1,440 million shares in Carllion on 1 December 2013 for E2,334 million when Carillon's notained camings word E1,854 milion. i1 Carillon purchased 2, 100 million shares in Monarch ple on 1 December 2016 for $1,800 million when Monarch's retained comings wore 2900 million. in) When Enron purchased Is shareholding in Carilion the fair value of Carilion's property plant and equipment coconoded its book value by 236 million. The excess of fairvalue over bock value was attributed to buildings owned by Carilion. At the date of acquisition, these buildings had a remaining useful Ife of 10 yours. Carilion's accounting policy is to doprodata buildings using the straight Ino basis. (W| Enron purchased 986 million shares in Tonon on 1 December 2017 for E750 million when Tanon's retained earnings word E270million. The fairvalueofTonon's not assets was the same as its not book value at that data. Enron exercises significant influence over all of Tonon's strategic and operational decisions. (w) Monarch occasionally trades with Enron. During September 2018 Monarch sold Enron goods for E27 million. Monarch uses a mark up of fifty por cont on cost. By 30 November 2018 Enron had paid Monarch in full but had only sold one third of the goods, $18 million being Induded in Enron's closing inventory. w] Impairment tests were carried out on 30 November 2018 which conduded that due to disappointing earnings the goodwill arising on the acquisition of Carilion had boon impaired by 30%% of its original value. There were no impairments in respect of Monarch or Tonon. (wil Enron's policy is to monsuno non-controlling interests at the proportionate value of not Required : 3] Using Carllion, Monarch and Tonon as examples explain why control is important when deciding how the Enron group's investments should be reported in their consolidated inandal statements. b] Propane the consolidated statement of finandal position and the consolidated income statement for the Enron group as at 30th November 2018. Work to the nonrost E million.Enron Group Below are the draft statements of financial position and statements of comprehensive income at 30" November 2018 of four entities, all of which prepare their financial statements in accordance with International Accounting Standards: Statements of Financial Position as at 30" November 2018 Enron ple Carillion Monarch Tenon plc plc pic Em Em Em Em Non-current assets Property. plant and equipment 5,670 2,520 1,425 1,545 Investments 3,225 1,800 300 8,895 4,320 1,725 1.545 Current assets Inventory 2,040 617 1,853 185 Trade and other receivables 2,495 1,101 957 213 Cash and cash equivalents 71 113 165 83 4,605 1,830 2.775 480 Total Assets 13,500 6,150 4,500 2.025 Equity and Liabilities Ordinary shares of 80.50 each 6,000 1,200 1,500 1,245 Share premium 1,200 0 0 Retained earnings 2,048 3.537 1,208 3:30 9,248 4,737 2,708 1,575 Non-Current liabilities 5%% Loan notes 90 0 6% Loan notes 0 375 90 375 Current liabilities Trade and other payables 4,035 1 275 1,253 414 Income tax 218 48 187 36 4,253 1,323 1,419 450 Total Equity and Liabilities 13,500 6,150 4,500 2,025