QUESTION 3 The following are the summarised statements of financial position of a group of companies as at 31 December 20X9. ASSETS Dublin Shannon Belfast Non-current assets Ltd Ltd Ltd Property, plant and equipment 90,000 60,000 50,000 Investments: 40,000 1 shares in Shannon 50,000 30,000 1 shares in Belfast 45,000 185,000 60,000 50,000 Current assets 215,000 50,000 30,000 Total assets 400,000 110,000 80,000 190,000 40,000 EQUITY AND LIABILITIES Capital and reserves Ordinary share capital of 1 each Revaluation reserve Retained earnings Equity Current liabilities Total equity and liabilities 50,000 10,000 30,000 90,000 20,000 60,000 250,000 150,000 400,000 16,000 56,000 24,000 110,000 80,000 Dublin Ltd purchased its shares in Shannon Ltd five years ago when there were retained earnings of 20,000 and a balance on its revaluation reserve of 10,000. Belfast Ltd had retained earnings of 16,000 when Dublin Ltd acquired its shares on 1 January 20X9. At the end of 20x9 the goodwill impairment review revealed a loss of 300 in relation to the goodwill acquired in the business combination with Belfast Ltd. Required: Prepare the consolidated statements of financial position as at 31 December 20x9 of Dublin Ltd and its subsidiaries