The statements of profit or loss of P Ltd and S Ltd for the year ended 31 December 2021 are shown below: P Ltd acquired 70% of the share capital of S Ltd as at 1st January 2020. Assume all income and expenses were deemed to accrue evenly throughout the year, and no dividends were declared or paid by P Ltd in 2021. Dividend income from S Ltd and interest income from S Ltd were not delivered or transferred by P Ltd during the year ended 31 December 2021. Required: (a) In the context of intra-group transactions, explain the accounting (7 marks) treatment of intra-group borrowings and intra-group dividends for preparing the consolidated statement of financial position. (b) As regards intra-group dividends and further to (a) above, if 80% (6 marks) of the shares of a subsidiary is owned by a parent (i.e. the subsidiary is not wholly owned), how should the dividend paid by the subsidiary to the owner who has 20% of equity in the subsidiary be accounted for? c) Prepare the consolidation journal entries regarding the intra-group (6 marks) borrowings for the year ended 31 December 2021. (Correct to the nearest dollar where necessary) d) Prepare the consolidation journal entries regarding the intra- (6 marks) group dividends for the year ended 31 December 2021. S Ltd declared a dividend of $1,803 to non-controlling interest in the year. (Correct to the nearest dollar where necessary)