Rouge plc acquired 100% of the common shares of Noir plc on 1 Januar y 20X0 and gained control. At that date the statements of financial position of the two companies were as follows:
|
Rouge £ million |
Noir £ million |
|
|
ASSETS |
||
|
Non-cur rent assets |
||
|
Property, plant and equipment |
100 |
60 |
|
Investment in Noir |
132 |
|
|
Current assets |
80 |
70 |
|
Total assets |
312 |
130 |
|
EQUITY AND LIABILITIES |
||
|
Ordinary y £1 shares |
200 |
60 |
|
Retained earnings |
52 |
40 |
|
252 |
100 |
|
|
Current liabilities |
60 |
30 |
|
Total equity and liabilities |
312 |
130 |
Note: The fair values are the same as the book values.
Required: Prepare a consolidated statement of financial position for Rouge plc as at 1 January 20X0.