The following are the draft of financial statements of the Glossy Bhd, Matte Bhd and Satin Bhd for the year ended 30 June 2020: Statement of Financial Position as at 30 June 2020 Glossy Bhd Matte Bhd RM RM Satin Bhd RM Equity and Liabilities Ordinary shares of RM1 each Retained profits Share premium 10% Debentures Bank loan Trade payables Other accruals 1,000,000 116,500 60,000 300,000 70,000 400,000 80,000 49,500 30,000 38,000 40,000 31,000 1,285,500 27,500 3,000 590,000 62,000 35,000 10,000 477,000 480,000 380,000 Assets Property, plant & equipment Investment in Matte Investment in Satin Inventories Trade receivables Cash at bank 495,500 500,000 220,000 35,000 20,000 15,000 1,285,500 40,000 40,000 30,000 590,000 48,000 44,000 5,000 477,000 Additional information: Open with 1. Glossy Bhd bought 80% of ordinary shares of Matte Bhd on 1 July 2018. The consideration was paid by cash of RM500,000. On that date, the share premium and retained profits of Matte Bhd were amounted to RM30,000 and RM40,000 respectively. As at the acquisition date, a piece of land of Matte Bhd had a fair value of RM20,000 more than its carrying amount. Matte Bhd did not adjust its record to account for the increase in value. The non-controlling interest's fair value as at the acquisition date was at RM320,500. 2. On 2 July 2019, Glossy Bhd acquired 45% ordinary shares of Satin Bhd when the retained profits of Satin Bhd was RM35,000. The consideration was settled through a cash payment amounted to RM220,000. There has been no new issue of shares of Satin Bhd since the date of acquisition. 3. During the year ended 2020, Glossy Bhd purchased inventories from Matte Bhd at selling price of RM105,000 with 20% margin. 40% of these inventories are yet sold at the end of the year. 4. Satin Bhd also bought an inventories at RM30,000 from Matte Bhd. Similarly, the profit margin is at 20% and as reported at the year-end, 1/3 of the inventories were remained unsold. 5. Glossy Bhd sold an equipment with a carrying value of RM50,000 to Matte Bhd for a selling price of RM52,000. The equipment is having four years remaining useful life and to be depreciated based on straight line method, giving full year's depreciation in the year of purchase and none in the year of disposal. 6. A 10% is allocated for the impairment of the goodwill on consolidation and non-controlling interest is to be measured at its fair value. 7. A review on 30 June 2020 reveals that the investment in Satin Bhd has been impaired for RM15,000. Required: Construct the Consolidated Statement of Financial Position of Glossy Bhd Group as at 30 June 2020. Disclose all workings. Pane 1