QUESTION THREE The summarized draft statements of financial position of the three companies at 31st DECEMBER 2019 are: Addinvilai mules. (I) T Acquired its shares in J on January 1, 2019, when J had Retained Earnings of K160,000. NCl's are to be valued at their Fair Value at the date of acquisition. The Fair Value of the NCI holding in J at January 1, 2019 was K250,000. (II) T acquired its shares in E on January 1, 2019 when E had Retained Earnings of K140,000. (III) An impairment test at the year-end shows that the Goodwill for J remains unimpaired but that the Investment in E is impaired by K2,000. (IV) During the year J had sold inventory to T for K60,000. These had at a margin of 25%. A quarter of these inventory still remains unsold. (V) The fair value of J in PPEs at the time of acquisition was more by k20,000 more than the book value. PPEs were assessed to have an estimated economic useful life of 20years and uses the straight method of depreciation Required:Prepare the Consolidated Financial Statement of Financial Position for T as at 31st DECEMBER 2019. (25 marks)