Question 4 The following are the statements of financial position of the statements of financial position of Garden pic, its subsidiary Rose Ltd and its ate Petal Ltd Statements of financial position as at 31 December 20X0 Garden Rose Petal E 240,000 84.000 180,000 300,000 72.000 18,000 ASSETS Non-current assets Land at cost Land at valuation Investment in Rose Investment in Petal Investments Current assets Inventories Trade receivables Current account - Rose Current account - Petal Cash Total current assets Total assets EQUITY AND LIABILITIES l shares Revaluation reserve Retained earnings 99,000 98.400 5.400 1.200 15,000 33.000 78,000 2,400 6,600 75.000 67,200 264,600 444,500 300 6.900 90.900 705.000 300,000 30,000 270,000 570.000 120,000 90,000 216.000 426,000 57,600 87,600 Current liabilities Trade payables Current account - Garden Total equity and liabilities 135.000 3,600 15,000 444,600 900 2.400 90,900 705.000 On January 20x3 Garden ple acquired 75% of Rose Ltd for 300,000 when Rose's share capital and reserves were 252000. Prior to the acquisition, the net book value of Rose's non-current assets was 290,000. Rose revalued its non-current assets immediately prior to the acquisition to fair value and included the revaluation in its statement of financial position On 1 january 20x5 Garden acquired 20% of Petal Ltd for 72.000 when the fair value of Petal's net assets were 42.000 Goodwill has been impaired in Rose by 77.700 and in Petal by 31,800. At the year-end, Garden pic has inventory acquired from Rose and Petal. Rose had invoiced the inventory to Garden for 6,000 - the cost to Rose had been 1,200. Petal had invoiced Garden for 23.000 - the cost to Petal had been 1,800 Non-controling interests are measured using Method I. Required: Prepare Garden ple's consolidated statement of financial position as at 31.12.20xy