Proper working notes are needed and also answers should be in dollars not in rupees.

Question 2 The summarized Statements of Financial Position of Corona Bhd, Coved Bhd and Veruz Bhd as at 31 December 2019are as follows: Veruz Bhd RM 1000 Statement of Financial Position as at 31 December 2019 Corona Bhd Coved Bhd RM 1000 RM '000 Non-current assets Property, plant and equipment 221,410 115,200 Investment in subsidiaries 153,100 52,100 Investment in associate 3,800 93,000 1 ACCT3132/ASSIGNMENTI/SEPT202 Investment in joint venture Other long-term investment 20,000 30,000 25,000 10,000 Current assets Inventories Trade receivable Bank 14,600 9,000 25,730 477,640 20,000 10,000 12,010 234,310 7,000 18,000 25,640 153,640 Total assets 60,000 Equity Ordinary shares 10% Preference shares Retained earnings Asset revaluation reserves 200,000 7,000 221,900 5,000 120,000 20,000 51,510 11,000 71,140 Non-current liabilities 8% Redeemable Preference shares 10% Debentures 600 200 15,640 500 Current liabilities Trade payables Tax payables Total equity and liabilities 20,100 8,000 477,640 25,000 6,000 234,310 19,000 3,000 153,640 Additional information: 1. Number of ordinary shares of each company are asfollows: Additional information: 1. Number of ordinary shares of each company are asfollows: Corona Bhd 200,000,000 Coved Bhd 120,000,000 Veruz Bhd 60,000,000 Additional information: 1. Number of ordinary shares of each company are asfollows: Additional information: 1. Number of ordinary shares of each company are asfollows: Corona Bhd 200,000,000 Coved Bhd 120,000,000 Veruz Bhd 60,000,000 2. Investment in subsidiary andassociate: a. CoronaBhdacquired80%ofCovedBhd'sordinaryshareson 1 July2014.Retainedprofit of Coved Bhd on the acquisition date was reported at RM30,100,000. The fair value of non-depreciable asset of Coved Bhd was RM5,000,000 exceed its carrying value. No adjustment has been made by Coved Bhd as to account for thevalue. b. CoronaBhdacquired40%oftheissuedordinarysharesofVeruzBhdon January 2016. On this date, the retained profit of Veruz wasRM42,000,000. 3. CoronaBhdalsohave 40%jointcontrolinPowerBhdcompanyon 1 June 2019.Thereported 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 Bhd was amounted to RM3,200,000. There is no other transaction incurred during the year2019. 4. During June 2019, Corona Bhd 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 itsplants on a straight line method 1 ACCT3132/ASSIGNMENT1/SEPT202 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 RM1,000,000 at a mark-up of 20%. As at the year-end, 25% of these goods are remainedunsold. 6. Included in the trade receivable of Corona Bhd is RM2,000,000 due from Coved Bhd. Coved BhdrecordeditastradepayableamountedtoonlyRM1,000,000sinceanotherRM1,000,000 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 ofacquisition. Required: Prepare the Consolidated Statement of Financial Position of Corona Bhd and its group of companiesasat31 December 2019.Disclosealtrelevantworkings. (30marks)