Total Ltd. has acquired holdings in the following companies: Add Ltd. Sum Ltd. cash. 68% of the ordinary share capital acquired on 1 February 2014 for GHe 6 million cash. Total Ltd also acquired 20% of the preference share capital on the same date for GHl million cash. 25% of the ordinary share capital acquired on 10 March 2015 for GH2 million The Draft Statements of Financial Position for the Companies as at 31 December 2015 were as follows: Total Ltd Add Ltd -Ltd Non- current assets Freehold property Fixtures and fittings Investments Current assets Stocks Debtors Cash Current liabilities Long-term liabilities GH000 64000 Financed by: Ordinary shares of GH1 each Preference shares of GHel each Revaluation reserve Profit and loss account 15000 27000 9000 4000 8500 (5000) (5500) 53000 35000 5000 10000 3000 53000 GH000 8000 10000 2500 1700 700 (1300) (1000) 20600 12000 3000 3000 2600 20600 L Additional information: a. Total Ltd.'s investments were acquired when the reserves of the companies were: Add Ltd Sum Ltd GH000 Sum Ltd Requirements: a. Prepare the consolidated statement of financial position as at 31 December 2015. b. Distinguish between control and significant influence. CH&a 2000 1000 500 400 (200) (300) 3400 1500 300 1600 3400 GH000 Revaluation reserve 1500 Profit and loss account (2000) 600 b. The fair value of the freehold property in Add Ltd was GH1.5 million above book value at the date of acquisition; all of this related to the land element of the property. c. Total Ltd sold various items of fixtures and fittings to Add Ltd for GH750000 on 31 March 2014. The assets were invoiced at cost plus 25%. It is the group's policy to depreciate that class of asset at a rate of 25% per annum.