Prepare the Consolidated Balance Sheet following the relevant IAS and IFRS (Show the necessary workings) Balance Sheets As at 30 September 2016 Mashrafe Ltd Mortaza Ltd Koushik Ltd Assets ’000 ’000 ’000 Property, plant and equipment 30 200 40 Investments 1,00,000 shares in Koushik Ltd 150 40,000 shares in Mashrafe Ltd 70 Current assets Inventories 80 150 90 Trade receivables 20 250 40 Cash 10 50 20 140 870 190 Equity and Liabilities Capital Reserves Ordinary shares Tk. 1 each 50 500 100 Retained earnings 70 90 40 Equity 120 590 140 Current Liabilities 20 280 50 140 870 190 Additional Information: During the year ended 30 September 2016 Koushik ltd sold goods costing Taka 50,000 to Mashrafe Ltd for Taka 70,000. Mashrafe Ltd still had half of these goods in inventory at 30 September 2016. Mortaza Ltd acquired its shares in Koushik Ltd on 1 October 2014 when Koushik Ltd’s retained earnings were Taka 30,000. The intra group balances are reflected in the above balance sheet of Mortaza Ltd at 30 September 2016 (Taka 10,000 payable to Mashrafe Ltd and Taka 20,000 receivable from Koushik Ltd) Included in Koushik Ltd’s inventory at 30 September 2016 was Taka 15,000 of goods purchased from Mortaza Ltd during the year. Mortaza Ltd invoiced Koushik ltd at cost plus 50%. Mortaza Ltd acquired its shares in Mashrafee Ltd on 30 September 2015. Mashrafe Ltd’s net profit for the year ended 30 September 2016 was Taka 30,000.