Vinyl has investments in many subsidiaries. One of these, CD, is located overseas and prepares its individual statements using the Mark (MK). The presentation currency of the Vinyl group is the dollar ($). An extract from CD's statement of financial position as at 30 September 20X4 is presented below: Equity Equity capital MK1 shares) Retained earnings Other components of equity MK(m) 76 275 351 The following information is relevant to the preparation of the consolidated financial statements. Purchase of CD shares Vinyl acquired 75% of the ordinary shares in CD on 1 October 20X3 for MK360 million. The fair value of the non-controlling interest at the acquisition date was MK90 million and the retained earnings of CD were MK210 million. There were no other components of equity. The fair value of the net assets of CD approximated their carrying amounts with the exception of a brand. This brand was not recognised by CD but Vinyl estimates that it had a fair value of MK10 million at the acquisition date. The brand was deemed to have an indefinite useful economic life. CD did not pay any dividends during the reporting period.