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As at 31 December 2018, the statement of financial position of Alif Bhd. and Satar Bhd. are as follows: Alif Bhd Satar Bhd RM'000 RM'000 Non-current assets Land at cost 200,000 300,000 Plant and machinery 150,000 60,000 Accumulated depreciation (50,000) (20,000) Investment in Satar Bhd 250,000 Current assets Bank 31,400 38,000 Inventories 45,000 41,000 Trade receivables 28,000 32,000 Current account - Satar Bhd 12,000 Dividend receivable from Satar Bhd 9,600 676,000 451,000 Ordinary shares 400,000 200,000 7% preference shares 100,000 5.6 percent preference shares 100,000 Retained profit 100,000 70,000 Current liabilities Taxation 28,000 21,400 Current account - Alif Bhd 11,000 Dividends payable 25,000 15,600 Trade payables 23,000 33,000 676,000 451,000 The following information is relevant: 1. Alif Bhd acquired 150 million of the 200 million issued ordinary shares of Satar Bhd on 1 January 2016 when the retained profit of Satar Bhd had a negative balance of RM20 million. 2. On 1 January 2016, the fair value of the land of Satar Bhd. was RM100 million more than shown in the books. Satar Bhd did not adjust its books to reflect the new value. The piece of land still remains with Satar Bhd. 3. Non-controlling interest is measured at the proportionate share of the fair value of the net assets of the subsidiary. 4. During the year ended 31 December 2018, Satar Bhd sold inventories valued at RM30 million to Alif Bhd. Satar Bhd invoices trading inventories to Alif Bhd at cost plus 50%. As at 31 December 2018, Satar Bhd had sold half of these inventories. 5. During the year ended 31 December 2017, Alif Bhd sold to Satar Bhd plant and machinery (cost RM40 million less accumulated depreciation RM20 million) at RM30 million. The plant is depreciated using straight line method and the remaining economic life of this asset is five years. 6. Alif's bank has not credited its account for the RM1 million cash remitted by Satar Bhd on 31 December 2018. 7. Included in the trade receivables of Alif is RM200,000 due from Satar. However, Satar sent RM100,000 on 30 December 2018, which Alif received on 3 January 2019. 8. Dividend payable of Satar Bhd include second-half years preference dividend. 9. Twenty percent of the partial goodwill was impaired by 31 December 2018. Required: Prepare the Consolidated Statement of Financial Position of Alif Bhd. as at 31 December 2018 (show necessary answer to calculate the amount of goodwill, non-controlling interest and group retained profit)
