please show all workings
Question 2 The summarized Statements of Financial Position of Corona hd, Coved hd and Vendas at 31 December 2019are as follow Statement of Financial Position as at 31 December 2019 Corona hd Coved the Ver the RM 000 RM 000 RM 800 Noncurrent assets Property, plant and equipment 221.410 115.200 93.000 Investment in subsidiaries 153,100 52.100 Investment in associate 100 ACCT132/ASSIGNMENTI/SEPT2120 Investment in joint venture Other long-term investment 20.000 30.000 25.000 10.000 Current assets Inventories Trade receivable 14600 9.000 25,730 477.610 20.000 10,000 12.010 234310 7.000 18.000 25.640 360 Totale 60.000 200.000 7,000 221.900 5.000 120.000 20,000 51.510 Equity Ordinary shares 105. Preference shares Retained earnings Asset revaluation reserves Non-current liabilities 8% Redeemable Preference shares 10% Debentures 71.140 600 200 15640 500 Current liabilities Trade payables Tax payables Total equity and liabilities 20,100 3.000 477.610 25,000 6000 234310 19.000 1000 153,640 Additional information: 1. Number of ordinary shares of each company are as follows Corona Bhd Cewed Bhd Verw. Bhd 200,000,000 120,000,000 60,000,000 2 Investment in subsidiary and associates Corona d acquired 10% of Coved his ordinary shares on 1 July 2014. Retained profit of Coved Bad on the acquisition date was reported at RM30.400.000. The air value of non depreciable asset of Coved Bhd was RM5,000,000 exceed its carrying value. No adjustment has been made by Coved Bed as to account for the value Corona Bhd acquired 40% of the issued ordinary shares of Venus Bhd on January 2016 On this date, the retained profit of Vent was RM42.000.000 3. Corona d also have 40% joint control in Power Bhd company on June 2019. The reported retained profit of Power Bhd as at the acquisition date was at RM1.500,000. As at 31 December 2019, the retained profit of Power hd was mounted to RM3.200,000. There is no other transaction incurred during the year 2019 # During June 2019. Corona d sold a plant to Coved Bhd. The plant carrying amount was RM230.000.000 and sold it at RM280.000.000. On this date, the remaining useful life of the plant was five years. It is the group policy to depreciate its plants on a straight line method with a full year's depreciation provided in the year of purchase and none in the year of disposal. 5. During the year, Veruz Bhd sold goods costing RM800,000 to Corona Bhd for RM 1,000,000 at a mark-up of 20%. As at the year-end, 25% of these goods are remained unsold. 6. Included in the trade receivable of Corona Bhd is RM2,000,000 due from Coved Bhd. Coved Bhd recorded it as trade payable amounted to only RM1,000,000 since another RM 1,000,000 was remitted to Corona Bhd but yet received as at 31 December 2019. 7. It is the group's policy to measure the non-controlling interest at the proportionate interest in the fair values of the net assets of the subsidiary on the date of acquisition. Required: Prepare the Consolidated Statement of Financial Position of Corona Bhd and its group of companies as at 31 December 2019. Disclose all relevant workings. (30 marks)