Question 1 Pistachio acquired 80% of the share capital of Peanuts two years ago, when the reserves of Peanuts stood at SAR250,000. Pistachio paid initial cash consideration of SAR2 million. At acquisition the fair values of Peanuts' plant exceeded its book value by SAR400,000. The fair value of the 20% non-controlling interest was SAR760,000. The Statements of financial position of both companies are as follows: Peanuts SAR'000 2,000 Statements of financial position as at 31 December 20XX Pistachio SAR'000 Investment in Peanuts at cost 2,000 Property, plant & equipment 5,500 Current assets: Inventory 550 Receivables 400 Cash 200 Non-current liabilities -2,400 Current liabilities -1,250 5,000 Share capital 2,600 Retained earnings 2.400 5,000 100 200 50 -400 -650 1,300 1000 300 1300 Required Prepare the consolidated statement of financial position as at 31 December 20XX