Objective: CLO $3-$ Construct the consolidated financial statements based on Malaysian Financial Reporting Standards Question $2(15$ marks$)$ On $1$ January $2017,$ One Bhd acquired $40\%$ of $100$ million ordinary shares of Double Bhd when the fair value of the net assets of Double Bhd was RM$900$ million. The acquisition was settled through a cash consideration of RM$400$ million. One Bhd was able to participate in the financial and operating policy decision of the company and has a representative on the board of directors of Double Bhd On $1$ July $2023,$ One Bhd acquired another $20\%$ of its interest in Double Bhd for RM$200$ million. However, The fair value of the net assets of Double Bhd on $1$ July $20231$ was RM$1,050$ million. The fair value of one ordinary share of Double Bhd on the $1$ July $2023$ was RM$12.$ The group valued the NCI at its proportionate share of the fair value of the net assets of the subsidiaries at acquisition date. Required: Discuss the impact of the second acquisition of the ordinary shares on the relationship between One Bhd and Double Bhd$.$ Show relevant figures to support your arguments. Question $3(20$ marks$)$ Twitter Bhd acquired $70\%$ ordinary shares of Tiktok Bhd on $1$ January $2018$ at a bargain purchase of RM$3$ million. Twitter Bhd and Tiktok Bhd ordinary shares' market value was RM$2\mathrm{.}30$ and RM$1\mathrm{.}80$ each respectively on $1$ January $2018.$ Other information on fair value of Tiktok Bhd at the acquisition date is derived as follows: RM Million Ordinary shares $100$ Retained profit $236$ On $1$ February $2023,$ Twitter Bhd disposed $28$ million ordinary shares in Tiktok Bhd for RM$40$ million. Twitter Bhd and Tiktok Bhd ordinary shares registered market values of RM$2\mathrm{.}50$ and RM$2\mathrm{.}00$ each on $1$ February $2023.$ The retained profit of Tiktok Bhd stood at RM$35$ million on this date. On $1$ March $2023,$ Twitter Bhd disposed another $10$ million ordinary shares in Tiktok Bhd at RM$1\mathrm{.}95$ each. The accounting period of the two companies ends at $30$ June. On the average, Tiktok Bhd registered RM$1$ million profits each month for the accounting year ending $30$ June $2023$ Required: a$.$ Analyze the related consolidation issues when Twitter Bhd prepared its Consolidated Profit or Loss and Other Comprehensive Income for $2023.(11$ marks$)$ b$.$ Ascertain the profit$/$loss on disposal of shares on both dates for the group only. $(9$ marks$)$