Prepare a simplified consolidated statement of financial position as at 31st December 2020

Scenario P acquires 100% of S's ordinary shares for RM1,500,000 on 31" December 2018. S's reserves (consists of only retained earnings) were RM 400,000 at the date of acquisition. The following presents the statement of financial position of both companies as at 31 December 2020. Notes RM *000 RM *000 As at 31st Dec 2020 Non-current assets: Property, Plant and equipment Goodwill Investment in s 2,000 1,000 1,500 Net current asset 300 200 1.200 3,800 800 Share capital Retained earnings 300 3.500 3.800 400 1.200 (25 marks)