The following are the statements of financial position of Hungles Ltd and its subsidiary Chickled Ltd as at 31st August 2019: Hungles NS Chickled NS Non-current assets 628,500 605,000 Investment in Chickled limited 400,000 nil Goodwill Total Non-current assets 1.028.500 805.000 Current assets Inventory 32,000 25,000 Debtors 36,500 20,000 Bank balance 38.000 Q Total current assets 106,500 45,000 Total assets 1,135,000 850,000 Equity and liabilities Ordinary shares N$2 each Retained profit Total equity Current liabilities Trade creditors Bank overdraft Total current liabilities 500,000 400,000 297,000 400,000 797,000 800,000 248,000 25,000 90000 25,000 338,000 50,000 Total equity and liabilities 1.135.000 850,000 Additional information 1) Hungles acquired its interest in Chickled as shown below Date-No. of shares acquired Cost of Investment NS Chickled Retained Earning 31/08/2011-80,000 shares 210.000 31/08/2015-80,000 shares 365,000 210,000 320,000 2) On 31/07/2017, it disposed of (sold) 40,000 shares and received $175,000. The retained earnings of Chickled on that date was $350,000. 3) The fair value of the existing holdings in Chickled was as follows Date 30/08/2015 30/08/2017 Fair Value of Existing holdings NS 218,000 600,000 4) Chickled Ltd has not issued new shares since they were incorporated in the year 2010. 5) It is a group policy to value the Non-Controlling Interest (NCI) using the proportion of net asset method.