The following are the financial statements of Pepper Plc, Salt plc and Allspice plc, for the accounting year-end 31 December 2020. Pepper 000 Salt 000 Allspice 000 ASSETS Non-Current Assets Property, plant & equipment 24,151 34,950 34,257 Investment in Salt 53,760 Investment in Allspice 14,462 Current Assets Inventory 22,187 21,740 17,367 Trade receivables 57,292 21,246 3,327 Cash at Bank 9.003 4,885 3,795 TOTAL ASSETS 180,855 82,821 58,746 EQUITY & LIABILITIES Equity 78,086 21,083 1 ordinary shares 16,399 Share premium 9,370 7,028 1,640 Retained earnings 39,211 44,390 26,892 126,667 72,501 44,931 Current Liabilities Trade payables 41,174 7,394 11,782 Tax payable 13,014 2,926 2,033 TOTAL EQUITY & LIABILITIES 180,855 82,821 58,746 Additional information: 1. Pepper acquired 75% of the ordinary shares in Salt on 1 January 2019 when the balance on Salt's retained earnings was 23.42 million. The consideration for the shares in Salt was 5.05 in cash for every 1 share acquired in Salt. This has been accounted for by Pepper. At the date of acquisition, shares in Salt were trading at 595p (5.95). The fair value of the land owned by Salt plc was 7.44 million above the book value at the date of acquisition. Pepper uses the fair value method to calculate goodwill and the non- controlling interest. 2. Pepper also acquired 40% of the ordinary shares in Allspice on the same date, when the balance on Allspice's retained earnings was 23.42 million. 3. During the year, Salt plc sold to Pepper plc goods for 4.46 million, which represented cost plus a mark-up of one-quarter. Half of these goods were still in inventory at the end of the year. 4. At the year-end Pepper's trade receivables included 1,011,000 owed from Allspice. This figure matched the trade payables figure for Pepper in Allspice's accounts. Salt's trade receivables included 1,405,000 owed from Pepper. The trade payables figure for Salt in Pepper's accounts was 782,000. A payment of 623,000 made by Pepper on 31 December