Additional information: a$).$ On $31$ December $2011,$ PAB held stocks purchased from MKB amounting to RM$30,000($invoiced price$)$ while MKB held stocks purchased from PAB amounting to RM$50,000.$ The intercompany sales in the current year amounted to RM$100,000$ in total. These sales had a profit margin of $\backslash (20\backslash \%\backslash ).$ b$).$ Full method of goodwill is to be used. Goodwill arising on acquisition is carried at cost less accumulated impairment losses if any. c$).$ Ignore tax effect on intercompany transactions. Required: $1)$ Calculate the goodwill on the combination and prepare the elimination journals. $2)$ Compute the difference between the cost and net assets arising from the additional $\backslash (15\backslash \%\backslash )$ equity interest acquired on $1$ January $2021.3)$ Prepare the consolidated financial statements of PAB's group for the year ended $31$ December $2021.$ Question $1$

On January $2020,$ PA Bhd $($PAB$)$ acquired $70\backslash \%$ of the voting shares in MK Bhd $($MKB$)$ for RM$1,320,000.$ On that date, the shareholder's fund of MK Bhd was as follows which represents the fair values of its identifiable net assets.

On $1$ January $2021,$ PAB acquired another $\backslash (15\backslash \%\backslash )$ of MKB$\text{'}$s shares for RM$530,000.$ On the date of acquisition, the shareholders' fund of MKB was as follows:

The Statement of Financial Positions and Comprehensive Income and Retained Profits of the two companies for the year ended $31$ December $2021$ were as follows: