QUESTION ONE The following represents the financial statements of XL td and Y Ltd Additional Information: X Ltd acquired its interest in Y Ltd on 01 July 2017 when Y Ltd's retained earnings were zero. At the date of acquisition assume the carrying amounts of all assets and liabilities of Y Ltd to be equal to the fair value thereof. STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2018 ruequited. Prepare the consolidated financial statements for the year 30 June 2018