Question 1 (40 marks) The following are the trial balances of Soma Ltd and its subsidiary, Cooper Ltd, at 30 June 20.20 Soma Ltd Cooper Ltd DR CR DR CR R R R R Share capital ordinary shares @ R1 each 100 000 50 000 Retained earnings - 1 July 20.19 250 000 130 000 Gross profit 410 000 360 000 Dividends received 30 000 Trade and other payables 80 000 60 000 Accumulated depreciation - 30 50 000 30 000 June 20.20 Bank overdraft 30 000 950 000 630 000 Property, plant & equipment @ 152 000 100 000 cost Investment in Cooper Ltd - 50 150 000 000 shares @fair value (cost price: R150 000) Inventories 180 000 160 000 Trade and other receivables 190 000 80 000 Bank 68 000 Auditors' remuneration 15 000 12 000 Staff cost 100 000 80 000 Depreciation 15 000 10 000 Taxation for the year 108 000 90 000