Question 4 Alpha is the parent company of Beta. The following are the balance sheets for both companies as at 31 December 2019. Alpha Beta $'ooo $'ooo ooo $'ooo Non-current assets Property, plant and equipment 4,200 3.300 Investments Shares in Beta at cost 3,345 Current assets Inventories 1,500 800 Accounts receivables 1,800 750 Bank 600 3.900 350 1.900 11.445 5.200 Capital and reserves Ordinary shares 9,000 4,000 Retained profits 9.525 4,200 Current liabilities Accounts payables 1,220 Tax payable 700 800 11145 5.200 The following information is also available: 1. Alpha acquired a 70% equity interest in Beta some years ago when Beta had retained earnings of $60,000. The fair value of Beta's assets and liabilities were close to book value at the date of acquisition 2. During the year, Alpha sold goods with an invoice value of $240,000 to Beta. These goods were invoiced at cost plus 20%. Half of the goods are still in Beta's inventory at the year end. 3. Beta owes Alpha $30,000 at 31 December 2019 for goods it purchased during the year. 4. Non-controlling interest was measured as its proportionate share of the acquiree's identifiable net assets. -525 200 200 Required: Prepare the consolidated balance sheet for Alpha as at 31 December 2019. Ignore deferred tax implications. (20 marks) 5