The following are the statements of financial position as at 31 December 2021 for Games Bhd and Fun Sdn Bhd: Investment in Fun Land Plant, property & equipment Loan receivable from Fun Current assets: Inventory Trade receivables Current account Bank Total assets Ordinary shares 6% Preference shares 5% Redeemable preference shares Revaluation reserve Retained earnings 10% Loan payable to Games Trade payables Current account Total equities and liabilities Games (RM'000) 500 18,000 16,900 1,000 5,250 5,870 380 5,300 53,200 35,000 2,000 - 4,500 5,600 6,100 53,200 Fun (RM'000) 2,600 2,080 780 910 1,100 7,470 2,500 200 100 800 1,580 1,000 990 300 7,470 Additional information: 1. 2. 3. 5. 4. Games acquired 75% of the ordinary shares issued by Fun on 1 January 2021 when the retained earnings of Fun was RM1.8 million with the following consideration: Cash payment on acquisition date RM500,000 Ordinary shares valued at Contingent consideration - - RM2,800,000 RM330,000 (Contingent consideration is payable on 1 October 2022 subject to certain profitability conditions met.) Cost of capital is 10% and only the cash payment has been recorded. On the date of acquisition, property belonging to Fun was found to have a higher value of RM200,000 with an estimated useful life of 20 years. However, equipment belonging to Fun was estimated to be RM50,000 lower with an estimated useful life of 5 years. None of these fair value changes have been recorded. The group uses straight line depreciation method. On consolidation date, fair value of land belonging to Games and Fun were found to be RM19.5million and RM3.8million respectively. The group uses revaluation method to prepare its accounts. Long term loan was given by Games to Fun on 1 July 2021 with annual interest rate of 5%. Fun has not accrued the interest on this loan and Games has yet to recognised interest income from Fun. Difference in current account is due to payment in transit. The group uses partial goodwill method to prepare its accounts. Required: Prepare the consolidated statement of financial position for Games group as at 31 December 2021. Show ALL relevant workings. (52 marks)