the following are the statements of financial position of garden plc its subsidiary 1572195

The following are the statements of financial position of Garden plc, its subsidiary Rose Ltd and its associate Petal Ltd:

On 1 January 20X3 Garden plc acquired 75% of Rose Ltd for £300,000 when Rose’s share capital and reserves were £252,000. At the date of acquisition, the net book value of Rose’s non-current assets were £90,000. Rose immediately included the revaluation in its statement of financial position. On 1 January 20X5 Garden acquired 20% of Petal Ltd for £72,000 when the fair value of Petal’s net assets were £42,000. Goodwill has been impaired in Rose by £77,700 and in Petal by £31,800. At the year end, Garden plc has inventory acquired from Rose and Petal. Rose had invoiced the inventory to Garden for £6,000 – the cost to Rose had been £1,200 – and Petal had invoiced Garden for £3,000 – the cost to Petal had been £1,800. Required: Prepare Garden plc’s consolidated statement of financial position as at 31.12.20X9.