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The statement of financial position of ABC Co and XYZ Co as at December 31, 2019 were as follows: ABC $'000 9,000 5,000 2.000 16.000

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The statement of financial position of ABC Co and XYZ Co as at December 31, 2019 were as follows: ABC $'000 9,000 5,000 2.000 16.000 XYZ #000 5,000 Property Plant & Equipment Investment in Wakanda cd Other Assets 1.500 6,500 Share Capital 500 500 Retained Earnings 14,500 5,000 Other Liabilities 1,000 1.000 16.000 6500 ABC Co acquired 80% equity in XYZ Co two years ago. At the date of acquisition, XYZ's retained earnings stood at $3miliion and the fair value of its net assets was $5million. This was $1.5million above the carrying amount of the net assets at this date. The fair value adjustment related to an asset that had a remaining useful economic life of 10 years as at the date of acquisition. The goodwill arising on consolidation has not suffered any impairment. Required: Prepare the consolidated statement of financial position of ABC Co. Group as at December 31, 2019, on the assumption that non-controlling interest is valued at fair value (use the full goodwill method). Please show all workings

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