Question5 P acquired 80% of the 1 million issued R1 ordinary shares of S on 1 October 20X3 for R1.5 million when S's retained earnings were R350,000 P acquired 30% of the 500,000 issued R1 ordinary shares of A on 1 October 20X7 for R300,000 when A's retained earnings were R360,000. The retained earnings reported in the financial statements of P, S and A as at 30 September 20X8 were R2 million, R750,000 and R400,000 respectively. An impairment review performed on 30 September 20X8 indicated that there was no impairment to the goodwill arising on the acquisition of S, however the investment in A was impaired by R5,000 Required: Calculate the amounts that would appear in the consolidated statement of financial position for the P group as at 30 September 20X8 for: (a) Investment in associate (b) Consolidated retained earnings. l1 Question5 P acquired 80% of the 1 million issued R1 ordinary shares of S on 1 October 20X3 for R1.5 million when S's retained earnings were R350,000 P acquired 30% of the 500,000 issued R1 ordinary shares of A on 1 October 20X7 for R300,000 when A's retained earnings were R360,000. The retained earnings reported in the financial statements of P, S and A as at 30 September 20X8 were R2 million, R750,000 and R400,000 respectively. An impairment review performed on 30 September 20X8 indicated that there was no impairment to the goodwill arising on the acquisition of S, however the investment in A was impaired by R5,000 Required: Calculate the amounts that would appear in the consolidated statement of financial position for the P group as at 30 September 20X8 for: (a) Investment in associate (b) Consolidated retained earnings. l1