Question 1 Donald acquired control of Trump on 1 August Year 3, subscribing for 3 million of the 4 million $1 ordinary shares issued by Trump. The net assets of Trump, as reported in its statement of financial position at this date, amounted to $10 million. There was no trading between the two entities, but Donald made a fiveyear, interest free, loan to Trump on 1 December Year 3. The draft statements of financial position of the two companies as of 31 July Year 4 were as follows. 103,000 41,000