(a) On 31 May 2020, Smart Sdn Bhd pays RM35,000 to acquire all of the shares of Best Sdn Bhd. The statements of financial position of the two companies just after this transaction are as follows:

	Smart Sdn Bhd (RM)	Best Sdn Bhd (RM)
Assets
Non-current assets
Property, plant and equipment	200,000	27,000
Investment in Best Sdn Bhd	35,000
	235,000
Current asset	109,000	12,000
	344,000	39,000
Equity
Ordinary share capital	250,000	30,000
Retained earnings	58,000	5,000
	308,000	35,000
Liabilities
Current liabilities	36,000	4,000
	344,000	39,000

Required:

Prepare a consolidated Statement of Financial Position as at 31 May 2020.

(16 marks)

(a) On 31 May 2020, Smart Sdn Bhd pays RM35,000 to acquire all of the shares of Best Sdn Bhd. The statements of financial position of the two companies just after this transaction are as follows: Smart Sdn Bhd (RM) Best Sdn Bhd (RM) Assets Non-current assets Property, plant and equipment Investment in Best Sdn Bhd 27,000 200,000 35,000 235,000 109.000 344,000 Current asset 12,000 39,000 Equity Ordinary share capital Retained earnings 250,000 58,000 308,000 30,000 5,000 35,000 Liabilities Current liabilities 36,000 344,000 4,000 39,000 Required: Prepare a consolidated Statement of Financial Position as at 31 May 2020. (16 marks)