Question 5 The draft statements of financial position of two companies as at 31 December 2019 were as follows: Huntingdon Ely RMOO0 RMOOO RMOOO RMOOO Non current assets Property, plant and equipment 43,800 27,000 Investment in Ely, at cost 22,000 65,800 27,000 Current Assets Inventory 17,200 7.500 Trade receivables 9,300 5,000 Interest receivable 160 Bank and cash 1,000 300 27,660 12,800 Total assets 93,460 39,800 Equity Ordinary shares of 50 sen each 30,000 10,000 Share premium 10,000 5,000 Retained earnings 12,460 13,520 52,460 28,520 Non-current liabilities 8% Debentures 2030 25,000 6,000 Current Liabilities Trade and other payables 15,400 4.800 Interest payable 480 Dividend payable 600 16,000 5,280 93.460 39,800