Q6 Following are the summarized statements of financial position of Pistachio Limited (PL), Mint Limited (ML) and Jalapeno Limited (JL) as on 31 December 2019: PL ML Rs. in million -------- JL | Property, plant and equipment Investment in ML at cost 850 750 500 900 Investment in JL. at cost 170 Inventories 300 340 200 Trade receivables 240 200 150 Cash and bank balances 60 170 50 2,520 1,460 900 Share capital (Rs. 10 per share) 1,400 700 400 Share premium 100 . . Retained earnings 780 480 340 | Liabilities 340 180 160 2,520 1,460 900 Additional information: (i) Details of PL's investments are as follows: Date of investment Retained earnings Holding% Investee of investee Rs. in million 1-Jan-19 25% JL 200 1-Apr-19 80% ML 360 (ii) The following considerations relating to acquisition of ML's shares are still unrecorded: . Transfer of PL's freehold land having carrying value and fair value of Rs. 88 million and Rs. 108 million respectively. Cash of Rs. 115 million would be paid in February 2020 if ML's net profit for the year 2019 would increase by 20% as compared to last year. Fair value of this consideration on acquisition date was estimated at Rs. 70 million. At year-end, the said target has been achieved by ML.. (iii) On the date of investment, the fair values of each share of ML and JL were Rs. 18 and Rs. 16 respectively. (iv) At the date of acquisition of MI., carrying values of ML's net assets were equal to fair value except for inventory which was carried at Rs. 130 million and had a fair value of Rs. 180 million. 20% of this inventory is still included in ML's inventory as at 31 December 2019. (v) On 1 July 2019, ML sold a machine to PL for Rs. 55 million at a gain of Rs. 10 million. The remaining useful life of the machine at the time of disposal was 5 years. (vi) JL paid 10% dividend for the half year ended 30 June 2019. PL recorded this as other income. (vii) During the year, PL made sales of Rs. 72 million to JL at 20% above cost. 60% of these goods were sold by JL during the year. (viii) As at 31 December 2019, PL has receivable of Rs. 8 million from JL. (ix) An impairment test carried out at year-end has indicated that goodwill of ML has been impaired by 10%. (x) PL measures non-controlling interest at the acquisition date at its fair value. (xi) PL's discount rate is 14%. Required: (a) Prepare PL's consolidated statement of financial position as at 31 December 2019 in accordance with the requirements of IFRSs. (b) List down the additional information having no effect in your working in (a) above (18) (02)