Question 2 On January 1, 2021, P Ltd acquired 30\% of shares of A Ltd for $2 million. At the acquisition date, the retained earnings of A Ltd was $700,000. The financial statements of P Ltd and subsidiaries as well as A Ltd for the year ended 31 December 2022, before consolidating the results of A Ltd, were as follows: The following additional information is relevant 1. The fair values of net identifiable assets of A Ltd acquired at the acquisition date were not materially different from their carrying amounts. 2. Goodwill to be accounted for in accordance with HKFRS 3 'Business Combinations', reviews of carrying amount of goodwill had been carried out and no impairment has to be provided. 3. A Ltd declared the dividends before 31 December 2022. The share of dividend receivable from A Ltd was not included in the books of P Ltd. Required 1. Prepare the Consolidated Statement of profit or loss for the year ended 31 December 2022 incorporating the results of the associate. 2. Prepare the Consolidated Statement of Financial Position as at 31 December 2022 incorporate the associate. (30 marks)