Question Eleven Hever has shares in two companies, Spiro and Aldridge, for a number of years. As at 31 December 20x4 they have the following statements of financial position: Non-current assets Property, plant & equipment Investments Current assets: Inventories Trade receivables Cash Equity Share capital ($1 ords) Share premium Retained earnings Current liabilities Trade payables Hever $'000 Spiro $'000 Aldridge $'000 370 190 260 218 0 0 588 190 260 160 100 180 170 90 100 50 40 10 380 230 290 968 420 550 200 80 50 100 80 30 568 200 400 8 868 360 480 100 60 70 968 420 550 You ascertain the following additional information: 1. The investments' in the statement of financial position comprise solely Haver's investment in Spiro ($128,000) and in Aldridge ($90,000). 2. The 48,000 shares in Spiro were acquired when Spiro's retained earnings balance stood at $20,000. The 15,000 shares in Aldridge were acquired when that company had a retained earnings balance of $150,000 3. when Hever acquired its shares in Spiro the fair value of Spiro's net assets equaled their book values with the following exceptions: Property, plant and equipment Inventories $'000 50 higher 20 lower (sold during 20x4)