QUESTION 1 Below are the summarised statements of financial position for three companies as at 31 March 2019: A Ltd B Ltd C Ltd Assets GHSm GHSm GHSm Non-current assets Property, plant and equipment 520 280 240 Investments 40 345 nil 865 320 240 Current assets Inventory Trade receivables Cash and bank 142 95 8 160 88 22 120 50 10 1,110 590 420 Total assets Equity and liabilities Equity shares of GHS leach Capital Surplus Retained earnings 145 500 100 130 nil 260 100 nil 240 730 405 340 Non-current liabilities 10% loan notes Current liabilities 180 200 20 165 nil 80 Total equity and liabilities 1,110 590 420 Notes: A Ltd is a public listed company that acquired the following investments: (1) Investment in B Ltd On 1 April 2017 A Ltd acquired 116 million shares in B Ltd for an immediate cash payment of GHS210 million and issued at par one 10% GHS100 loan note for every 200 shares acquired. B Ltd's retained earnings at the date of acquisition were GHS120 million. (ii) Investment in C Ltd On 1 October 2018 A Ltd acquired 30 million shares in C Ltd in exchange for 75 million of its own shares. The stock market value of A Ltd's shares at the date of this share exchange was GHS1-60 each. A Ltd has not yet recorded the investment in C Ltd. (iii) A Ltd's other investments, and those of B Ltd, are available-for-sale investments which are carried at their fair values as at 31 March 2018. The fair value of these investments at 31 March 2019 is GHS82 million and GHS37 million respectively. Other relevant information: (iv) A Ltd's policy is to value non-controlling interests at their fair values. The directors of A Ltd assessed the fair value of the non-controlling interest in B Ltd at the date of acquisition to be GHS65 million. There has been no impairment to goodwill or the value of the investment in C Ltd. (V) At the date of acquisition, B Ltd owned a recently built property that was carried at its (depreciated) construction cost of GHS62 million. The fair value of this property at the date of acquisition was GHS82 million and it had an estimated remaining life of 20 years. For many years B Ltd has been selling some of its products under the brand name of "Kyklop'. At the date of acquisition, the directors of A Ltd valued this brand at GHS25 million with a remaining life of 10 years. The brand is not included in B Ltd's statement of financial position The fair value of all other identifiable assets and liabilities of B Lid were equal to their carrying values at the date of its acquisition. (vi) The inventory of B Ltd at 31 March 2019 includes goods supplied by A Lid for GHS56 million (at selling price from A Ltd). A Ltd adds a mark-up of 40% on cost when selling goods to B Ltd. There are no intra-group receivables or payables at 31 March 2019. (vii) C Ltd's profit is subject to seasonal variation. Its profit for the year ended 31 March 2019 was GHS100 million. GHS20 million of this profit was made from 1 April 2018 to 30 September 2018 (viii) None of the companies have paid any dividends for many years. Required: Prepare the consolidated statement of financial position of A Ltd as at 31 March 2019