QUESTION THREE (30 MARKS) KK Ltd regularly sells goods to its wholly-owned subsidiary company Ash Ltd, which it has owned since Ash Ltd.'s incorporation. The statement of financial position of the two companies on 28th February 2020 is given below. Required: Prepare a consolidated account for the group that ended 28th February 2020. STATEMENT OF FINANCIAL POSITION AS AT 28 FEBRUARY 2020 KK Ltd (R) Ash Ltd (R) Assets Non-Current Assets 90,000 60,000 PPE 35,000 60,000 Investments in 55,000 shares in Ash Ltd at cost 55,000 Current Assets 55,000 51,000 Inventory 16,000 27,000 Trade receivable: Ash Ltd 2,000 Other 21,000 24,000 Bank 16,000 Total Assets 145,000 111,000 Equity and Liability Members' interest and reserves 116,000 69,000 55,000 R1 ordinary shares 55,000 85,000 R1 ordinary shares 85,000 Retained earnings 31,000 14,000 Non-Current Liabilities Current Liabilities Bank overdraft 8,000 Trade payables: KK Ltd 2,000 Other 29,000 32,000 Total Liabilities 29,000 42,000 Total Equity and Liabilities 145,000 111,000