Zambia

The statements of financial Position of two companies for 31stDecember year 1 are as follows:

	Zambia	Lusakka
	$M	$M
Investment in Lusaka	500 Cost of Investment
Assets	600	650
	1,100	650
Ordinary Shares ($1)	400	200
Accumulated Profits	400	300
Equity	800	500
Liabilities	300	150
	1,100	650

Additional Information:

Zambia has today, 31st December Year 1, acquired all (100%)the shares in Lusaka for $500m

Required:

Prepare the Consolidated Statement of Financial Statement of Zambia group of companies on

31st December Year 1